Bank of Japan's rate hike expectations for this month cool down! Sources: Another rate hike may come as early as December.

According to informed sources, Bank of Japan officials are inclined to oppose a rare back-to-back rate hike this month, but are still considering the possibility of raising rates again as early as December. The sources said BOJ officials believe there is little need for consecutive rate hikes absent signs that upside inflation risks will suddenly intensify. The sources added that the BOJ will instead carefully scrutinize economic data to determine whether another rate hike is necessary as early as its December policy meeting.