Minutes of the Bank of Japan (BOJ) March 10-11 policy board meeting:
- Members agreed that prices, economy moving in line with BOJ forecasts
- Members agreed they need to monitor risk to markets posed by Ukraine and geopolitical risk
- Agreed that weakness in exports is temporary and that exports will pick up gradually in future
- Agreed than increases are wages are spreading
- One member said that its possible that the impact of the weak yen on consumer prices has grown
- One member said that inflation in H2 of 2013 was somewhat higher than expected
- Members agreed that consumer spending is to remain firm after the sales tax hike due to improvements in the job market and in wages
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Again, it appears from comments that there is no pressure felt at the BOJ to ease further just yet.
Link to the full text (if you are really, really bored … though I recommend snakes on a plane rat in the subway carriage instead – go on, watch it again, you know you want to).
