TechFlow news, according to sources, Bank of Japan officials believe there is no need to raise the benchmark interest rate at their next meeting, as they continue monitoring ongoing financial market volatility and the impact of July's rate hike. The sources said that while officials are closely watching markets, their stance remains that the BOJ should raise rates if the economy and inflation continue to meet expectations.
They noted that so far, recent market turbulence has not significantly affected the views the bank presented in its quarterly outlook report in July. As such, officials have not ruled out the possibility of another rate hike later this year or in early 2025, depending on economic and financial market conditions.
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