BOJ Signals Openness to Faster Rate Hikes as Yen Hits Four-Decade Low

BOJ officials are open to raising interest rates faster than the market consensus of roughly two hikes per year, Reuters and Bloomberg reported July 22. The yen slid past 163 per dollar on July 21 — a four-decade low — before rebounding on the reports. The BOJ's policy rate stands at 1%, a 31-year high. Currency-driven inflation is the trigger.