Bank of Japan officials are inclined against implementing a consecutive interest rate hike at the October 30 policy meeting, barring any sudden surge in upside inflation risks. While keeping rates steady this month appears likely, policymakers continue to view a rate increase as possible as early as December pending further economic data assessment. The central bank raised rates to 1.25% last month under Governor Kazuo Ueda to manage inflation risks following pressure from U.S. Treasury Secretary Scott Bessent to advance policy normalization and strengthen the yen. Sources note that while the current lean is toward holding rates in October, the final decision remains subject to change based on incoming data before the meeting concludes.