Japanese media: BOJ likely to hold off on consecutive rate hikes at October meeting

Odaily reports: According to Nikkei, the Bank of Japan plans to keep its policy rate unchanged at 1.25% at its monetary policy meeting scheduled for October 29-30. Having decided to raise rates at its previous meeting in September, the BOJ will now observe the impact of that hike. The BOJ is likely to state that underlying inflation, after excluding temporary fluctuations, has effectively reached the 2% target. Going forward, the BOJ will focus on curbing inflation from rising further above 2% and keeping it stable, while seeking an appropriate timing for additional rate hikes. The nine-member policy board is expected to decide by majority vote to keep the policy rate unchanged. (Jinshi)