The Bank of Japan declared that inflation in the country was "generally consistent" with its target of 2%, the first time it has made that assessment since adopting the target in 2013. This comes as the central bank expectedly held rates at 1.25%, still at its highest level since 1995. The decision was split 8-1, with board member Hajime Takata dissenting. Takata had wanted the bank to hike its policy rate to 1.5%. A CNBC survey of 16 economists before the decision revealed that all surveyed expect the BOJ to set the stage for a rate hike in December or January next year, as domestic inflation and wages continue to rise.
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