The Bank of Japan summary pre-empts the Minutes by many, many weeks
One member (the newly appointed Captain Obvious I think) says still distance to the 2% inflation target
- Should continue powerful easing
More:
- Appropriate to patiently continue strong easing under current policy framework
- Inappropriate to forcibly push up prices in short term as sluggish prices aren't caused by simple factor like lack of demand
- Should consider responses before side-effects from easy policy materialise on banking sector
- There's room for banks' intermediation to improve
- Important to conduct market operations from viewpoint of maintaining market functions
- Should consider effects and side-effects of purchasing risky assets such as ETFs
Full text is here:
Summary of Opinions at the Monetary Policy Meeting on June 14 and 15, 2018
