BoJ mulled rate hike at March meeting if Iran war dragged on
Minutes show many board members cautioned against monetary response to energy shock
Bank of Japan board members discussed several scenarios in which the effects of the Middle East conflict would require monetary policy tightening, according to minutes of their March meeting.
According to the unattributed record of the BoJ’s meeting, published today (May 7), the board members said future rate decisions would be based on assessments of economic conditions and inflation at the time, as well as developments in the Middle East. The bank held policy at 0.75% at both its March meeting
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