A post by @FirstSquawk on X.

Bank of Japan minutes showed one policy board member judged the rate of CPI increase has broadly reached the price stability target, warning that underlying inflation could deviate upward if the trend accelerates, while some members noted services prices have continued to rise steadily. The remarks point to a more hawkish undercurrent within the board even as the headline inflation gauge is seen as broadly consistent with the target. The discussion matters because sustained services inflation is the key condition the BOJ has flagged for normalizing policy further. Traders will watch upcoming services price data and the board's next policy meeting for signs that more members are shifting toward the view that inflation risks are tilted to the upside.