The summary of opinions from the Bank of Japan's June policy meeting, released on Wednesday, indicated that some members of the policy board advocated for further interest rate hikes. The aim would be to push the policy rate closer to a level considered neutral for the economy.

One member was quoted as stating, "Unlike in the United States and Europe, Japan's policy rate remains below the estimated range for the neutral rate. It is necessary to bring the policy rate closer to the neutral level as soon as possible."