TOKYO :Some Bank of Japan (BOJ) board members said domestic inflation might hold above the central bank's 2 per cent target, minutes of their June policy meeting showed, providing insight into BOJ's move last week to let some rates rise along with increasing prices.While one member called for a review of the
TOKYO :Some Bank of Japan board members said domestic inflation might hold above the central bank's 2 per cent target, minutes of their June policy meeting showed, providing insight into BOJ's move last week to let some rates rise along with increasing prices.
The discussion highlights how the board did not see an imminent need to tweak yield curve control in June, but decided to do so last week based on changes in market and inflation developments since then. Debate at the June meeting focused on whether inflation, which had been exceeding the BOJ's 2 per cent target for roughly a year, was still a temporary cost-push phenomenon, or already turning into sustainable price gains backed by domestic demand.
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