Highlights of BOJ Monetary policy meeting minutes

26 Sep 2017 09:35 AM

Following are the highlights of the BOJ meeting held on July 19 and 20:

  • Many members agreed that inflation expectations were no longer falling.
  • Companies gradually moved towards raising wages.
  • The Bank of Japan will continue in current expansionary policy by maintaining the monetary easing program with negative rates and controlling the yield curve.
  • Current monetary Policy supports the attainment of the desired objectives.
  • One member pointed out that the inflation target of 2% is against the bank's flexible policy.
  • One member noted that the 2% target would make it difficult to adjust monetary policy.
  • A few members saw the need to unemployment and the output gap to fall for pushing inflation to target of 2%.
  • Japan's Nikkei is trading near 20,000 levels as the currency depreciates.
  • The depreciation of the yen against the US dollar is due to the differential interest rates between the two countries.
  • Developed economies experienced a moderate growth in the past period.
  • The world economy has improved in modest pace recently.
  • The US economy has recovered significantly.
  • The Japanese economy continues to grow at a moderate pace.
  • Exports rebounded led by improving emerging economies.
  • Inflation expectations remain weak.
  • Many members expressed concern about the financial situation in Japan.

Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only