BoJ Minutes say will continue raising policy rate if economy, prices move in line forecast

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Tuesday, per the BoJ Minutes of the June meeting.     

Key quotes

Many members said inflation somewhat overshooting forecast but must scrutinise economic developments due to downside risk to growth from US tariff policy.
One member said must support economy with current rate level as underlying inflation likely to stagnate temporarily.
Another member said now is period where we must scrutinise impact of BOJ’s January rate hike on economy, prices.
Members shared view BOJ expected to continue raising policy rate if economy, prices move in line with its forecast.
A few members said BOJ will likely consider resuming rate hikes once there are prospects trade woes stabilise.
One member said rate hike phase may be on pause for time being, but BOJ must respond nimbly, resume rate hike depending on U.S. policy development.