BOJ summary suggests good chance of December interest rate hike

What happened: The Bank of Japan's summary of opinions from its Oct. 29-30 meeting showed many board members see a near-term rate hike as necessary, signaling a good chance of a December move. Key numbers: Meeting held Oct. 29-30; summary released Tuesday; nine board members; expectations around a quarterly pace of rate increases. Why it matters: The summary suggested higher confidence among board members in hiking again in December, after the central bank sped up the pace of rate hikes following sustained price gains.

The Bank of Japan's summary of opinions from its Oct. 29-30 meeting showed many board members see a near-term rate hike as necessary, signaling a good chance of a December move.

The summary suggested higher confidence among board members in hiking again in December, after the central bank sped up the pace of rate hikes following sustained price gains.