A Reuters analyst says there was a heated debate at the BOJ’s monetary policy meeting in January.
Such a view of the atmosphere of the meeting is not apparent from the previously published Summary:
Of course there were disagreements. That’s what policy meetings are for discussing. But as far as “heated” is concerned, it’s hard to say.
Reuter’s key points from the meeting:
Most thought it appropriate to maintain the current easy policy including YCC
- Crucial to generate positive economic, price cycle to achieve goals
- Yields should be prevented from rising, taking into account the performance of bond mkt
- It should take more time to measure the impact of the December tweak on the JGB band
- When it’s time to exit the ultra-easy policy, you need to measure the market impact
- Revision of the policy will be necessary at some point, but not now
- Inflation in Japan is expected to ease in the second half of the year
- Cost pressure is already starting to ease
- Tokyo now sees no immediate change in policy after Kuroda in April
- Next policy adjustment possible in the summer