Yen Weakens as BOJ Signals Potential December Rate Hike
The Bank of Japan's latest meeting summary suggests conditions for policy rate normalization are nearly met, with one board member explicitly advocating for a move. Governor Kazuo Ueda's recent comments reinforce market expectations of a January rate hike, though December remains a possibility.
Market reaction was immediate, with the yen sliding to 153.80 against the dollar after touching an eight-month low of 154.48 last week. The 7-2 vote to maintain current rates belies growing consensus for tightening, as inflationary pressures demand attention.