Bank of Japan releases minutes of its policy meeting on 8-9 March 2018
- Statement and decision here
- Most members share view towards hitting price target was being maintained
- Most member say BOJ should maintain easy policy
- Still long way to go to hit price target
- Some members say BOJ must monitor benefits, side effects of current policy
- One member says that there is a risk financial intermediation could be hurt if low-rate environment was prolonged
- Some members say it is vital to explain why there is a distance towards 2% inflation target
- One member says that normalisation could be future topic but needs to explain that such a step would be different from tightening policy
Full release here.
Nothing much in this release as this pertains to the March meeting. Just a reiteration of easing policies and the BOJ's commitment to further easing and reaching its price target. The reference to the 2019 price target goal was removed in its April meeting - so that will be more keenly eyed.
The release of the April minutes will be on 20 June.
