The Bank of Japan released the July 14-15 monetary policy meeting minutes a little earlier (here).

The Nikkei follows up:

  • Some members said there seemed to be “a high degree of uncertainty” surrounding the majority view (of reaching the price target)
  • These members would likely be Sayuri Shirai, Takahide Kiuchi and Takehiro Sato, although the minutes didn’t identify them.
  • In speeches, the three have expressed skepticism about the probability and urgency of achieving the central bank’s 2.0% inflation target in around two years
  • The central bank customarily discloses the names of members voicing opposition in both April and October when the BOJ issues its semi-annual outlook, it doesn’t do so in January or July when the BOJ makes an interim update
  • Other members — apparently not the previous three — said there was less slack in the economy and that rising inflation expectations were firmly taking hold, while “upward pressure on prices would increase further.”

More at the (ungated) article: BOJ minutes show some members cautious on 2% inflation target