As I posted a few minutes ago, the Minutes are pre-empted somewhat by the 'Summary of Opinions'
Anyway, the full minutes out now:
- Policy Board members agreed that JBG purchases will fluctuate somewhat under the Yield Curve Control policy, such fluctuations cause no problem for the BOJ's market operations guidance
- 1 member said the Bank should cut asset purchases incrementally.
- Most members sais there is no conflict between JGB buys, market operation guidelines; and that pursuing current powerful easing is appropriate
- Risks to the Japanese economy are skewed to the downside
- 1 member said JGB purchases cannot be maintained next year unless the Bank starts reducing its purchases now
- Members agreed that inflation expectations remain weak
- Members agreed that gains in industrial production will continue, and that exports will continue to show solid gains
Full text is here: Minutes of the Monetary Policy Meeting on April 26 and 27, 2017
--
