A summary of opinions from last week's policy meeting revealed that one of the nine members of the Bank of Japan's policy board indicated the neutral interest rate appears to be around 2%.

Another board member stated that the current policy rate remains below the estimated range for the neutral rate.

This member emphasized the need to bring the policy rate closer to the neutral level as soon as possible.

It is noted that the Bank of Japan's own estimate for the neutral rate is approximately between 1.1% and 2.5%.

One board member suggested it would be desirable for the central bank to consider raising interest rates every few months.

This follows the Bank of Japan's decision at its June meeting to increase the policy rate to 1%, a move that aligned with widespread market expectations.