The minutes of the Bank of Japan meeting confirm that the policy focus is on preventing excessive inflation, and market expectations for interest rate hikes have increased

The Bank of Japan confirmed in last month's policy meeting minutes that the policy focus has shifted towards preventing inflation from exceeding the target level and has raised the policy interest rate to its highest level since 1995. The minutes strengthen market expectations for the Bank of Japan to raise interest rates again this year. Swap markets show that traders believe the probability of the Bank of Japan raising interest rates again before the end of December exceeds 95%, and the probability of raising interest rates at the next policy meeting on October 30th is about 21%.