SMBC Nikko Securities: BOJ Likely to Raise Rates in October

Odaily Odaily News: SMBC Nikko Securities economist Yoshimasa Maruyama stated that, based on the results of the Bank of Japan's branch manager meeting on Thursday, the BOJ still appears on track for another rate hike in October. The BOJ branch managers pointed out that while Middle East tensions persist, production remains resilient, and there is potential for further price pass-through.

Maruyama said, "Overall, this can be seen as a step toward further rate increases. However, the BOJ's report and the briefings from branch managers did not convey a sense of urgency for an immediate rate hike at the next meeting." (Jin Shi)