Sources: Bank of Japan leans toward not raising rates consecutively in October

PANews October 13 news, according to foreign media reports, people familiar with the matter revealed that Bank of Japan officials are inclined not to implement a rare consecutive rate hike this month, but still retain the possibility of taking rate hike action as early as December. The people familiar with the matter said that, in the absence of signs that upside inflation risks will suddenly rise, Bank of Japan officials see no need for consecutive rate hikes. The central bank will carefully study economic data and assess whether a new round of rate hikes can be launched at the December meeting. The people familiar with the matter said that the final policy decision at the October 30 meeting still remains uncertain until the last moment. To manage upside inflation risks, the policy committee of Bank of Japan Governor Kazuo Ueda raised interest rates to 1.25% last month. Previously, U.S. Treasury Secretary Scott Bessent pressured Japan to continue advancing policy normalization to help the yen strengthen.