- Most members said the BOJ should continue with QE to achieve the price stability target of 2 percent, as long as necessary
- One member said if markets judged that fiscal consolidation had weakened, monetary easing effects would be hindered due to higher risk premiums
- Exports are expected to head for a moderate increase, mainly due to recovery in overseas economies
- Private consumption is resilient as a trend because the employment and income situation are improving steadily
- Some members worried about risk of rise in market volatility due to differing views on economic performance and monetary policy in different countries
- One member said slow capex in Europe and emerging markets could slow Japan’s exports
- Members shared view that Japan’s economy to continue to recover gradually as sales tax impact wanes
Headlines via Reuters
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Full text: Minutes of the Monetary Policy Meeting
on September 3 and 4, 2014
