Informed sources: The Bank of Japan believes there is little necessity for a rate hike next week

ChainCatcher news, according to informed sources, Bank of Japan officials believe there is no need to raise the benchmark interest rate at next week's meeting, as they are still monitoring the ongoing volatility in the financial markets and the impact of the rate hike in July. Informed sources said that while officials are closely watching the market, their position is that if the economy and inflation continue to meet expectations, the Bank of Japan should raise interest rates.

They stated that so far, the recent market turmoil has not significantly affected the views presented in the bank's quarterly outlook report in July. Therefore, officials do not rule out the possibility of another rate hike later this year or in early 2025, depending on the state of the economy and financial markets.