Many BOJ board members saw need to raise rates if Iran war prolongs energy shock, minutes show

TOKYO - Many Bank of Japan board members saw the need to raise interest rates if the Iran war-driven energy shock is prolonged and gives rise to concerns over second-round effects on broader inflation, minutes of their March meeting showed on Thursday.

One member said the BOJ should raise rates "without long intervals," while another said the central bank would need to hike "without hesitation" if the economy showed no signs of deterioration from the Middle East conflict, the minutes showed.

(Reporting by Leika Kihara; Editing by Jacqueline Wong)

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This story was originally published May 6, 2026 at 5:20 PM.