- One member said large contribution from inventories and falling wages in GDP may signal downward shift in growth
- Members said economy is in gradula recovery
- Improving job market impacts consumption and housing market
- Several members said strong consumer spending and domestic demand contributing to sonsumer price gains
- Members said weak exports a concern, but still expect exports to recover as overseas economies improve
- One member said mid- to long-term inflation expectations determined by fundamentals, difficult to meet 2% target in 2 years
- Several members said need to be mindful of risks of big moves in interest rates
Headlines/summary points via Reuters
Link to full text: Minutes of the Monetary Policy Meeting on November 20 and 21, 2013 (English translation prepared by the Bank’s staff based on the Japanese original)
(25 pages, PDF)
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Data coming up later in the session from Japan.
Singapore, Hong Kong, Australian and New Zealand markets are all closed today. But Tokyo is open.
And, reminder, European/UK markets closed on the 26th December.
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Added: USD/JPY testing last week’s highs after the release. Godzilla the Nikkei continues its rampage higher:
Nikkei 10 minute candlestick chart 26 December 2013
