Bank of Japan minutes January 21-22:
- Many members said need to clearly explain that QE is not strictly limited to 2 year time frame
- One member said need to make sure explanation of policy does not weaken commitment to time frame
- Members agreed that positive economic cycle to remain in place after sales tax hike
- One member said weak consumer sentiment may be due to sales tax hike
- Members agreed exports to pick up as advanced economies recover
- Many members said expect upward pressure on prices to increase as supply-demand balance improves
- Some members said need to clearly explain that slowdown in growth after sales tax hike is factored into BOJ’s main scenario
Full text here (PDF)
Headlines from minutes via Reuters
