An analyst at Reuters says the BOJ January monetary policy board meeting saw heated debate.
Such a take on the mood of the meeting is not obvious from the Summary published earlier:
There were disagreements, of course. That's what policy meetings are to discuss. But as to 'heated' its hard to tell.
Reuters main points of the meeting:
- Most saw it appropriate to maintain current easy policy incl YCC
- Crucial to generate positive economic, price cycle to achieve targets
- Yields must be kept from rising being mindful of bond mkt functioning
- Must take more time to gauge impact of December tweak to JGB band
- When time for exiting ultra-easy policy, must gauge market impact
- Review of policy necessary at some point but not now
- Japan inflation likely to slow towards latter half of year
- Cost-push pressures already starting to ease
- Tokyo now seeing no immediate change in policy post-Kuroda in April
- Next policy tweak possible in summer
Bank of Japan Governor Kuroda