The summary precedes the full minutes of the meeting by many, many weeks.
No sign in the summary that the BOJ will be diverting from its ultra-loose monetary policy any time soon.
Headlines via Reuters:
- rising inflation could weigh on overseas economic growth
- worried of risk uncertainty over Ukraine developments could weigh on japan's economy
- rising raw material and food costs, geo-political risks could inflict strong downward pressure on economy
- Japan's consumer inflation likely to accelerate clearly from April, May move around 2% for some time
- inflationary pressure to heighten on improvements in output gap, rising inflation expectations
- consumer inflation likely to hover around 2% in 1st half of fiscal 2022 but may undershoot if commodity prices turn down
- more companies appear to be passing on higher costs to consumers
- surging imported raw material costs unlikely to lead to sustained rise in consumer inflation
- BOJ must maintain monetary easing as japan unlikely to see inflation continuously exceed 2%
- BOJ must focus not on fx, commodity price moves themselves, but how they could affect economy, prices
- BOJ must respond flexibly without hesitation if achievement of 2% inflation comes under threat as rising raw material prices could hurt economy, prices
After the release yen is barely moved. Meanwhile the yield on the 10yr JGB is sticky at 0.25%