Bank of Japan policymakers discussed the likelihood of a near-term rate hike at their October meeting, with most members leaning toward tightening if wage momentum and economic conditions stay supportive, according to a summary released Monday. I put up a piece on the Summary earlier:BoJ Summary of Oct meeting highlights the importance of wages to future rate hikesReuters have a recap now, in summary:Of the 13 policy opinions expressed by the nine-member board, eight called for a rate increase soon or outlined conditions that could justify one. Several members said the Bank must not “miss the timing” to raise its policy rate, while others said a move would depend on confirming that firms’ wage-setting momentum continues and that no major shocks hit the global economy or markets.At the two-day meeting ending October 30, the BOJ kept its policy rate unchanged at 0.5%, though two members dissented in favour of a hike to 0.75%. Governor Kazuo Ueda said afterward he preferred to see “a bit more data” to confirm that companies will sustain pay increases despite the drag from higher U.S. tariffs.The summary suggests the central bank is growing more confident about normalising policy but remains cautious about timing, with a focus on verifying wage resilience before taking the next step. This article was written by Eamonn Sheridan at investinglive.com.