BOJ summary suggests good chance of December interest rate hike

The Bank of Japan’s brief record of the latest policy meeting indicated many board members see a near-term interest rate hike as necessary, signaling there’s a good chance for a December move. Following sustained price gains, Japan’s central bank has sped up the pace of rate hikes, with current expectations settling around a quarterly pace of borrowing cost increases. Details from Tuesday’s summary of opinions suggested a higher confidence in hiking again in December.