BOJ meeting minutes

Quick headlines via Reuters:

  • Most members shared view underlying trend in inflation had been improving steadily
  • Many members shared view BOJ should make policy adjustments without hesitation if underlying trend in inflation changed
  • Members shared view it was important for rise in the underlying trend in inflation to be reflected in spring wage negotiations
  • A few members said unless wages rose, households could again increase resistance to rising food, daily necessity prices
  • A few members said it was necessary to closely monitor whether firms' price-setting strategy would change as input prices declined on the whole
  • Some members said global market developments continued to warrant attention, particularly given emerging market slowdown
  • Members shared view economic activity in Asia remained in deceleration phase on the whole
  • Members shared view that, despite the slowdown in emerging economies, corporate profits continued to improve markedly
  • Many members said firms will show more proactive attitude to wards wages and capex once emerging economies improved


Full text is here: Minutes of the Monetary Policy Meeting on November 18 and 19, 2015 [PDF 92KB]

These Minutes are quite stale given the (minor) policy action the BOJ took at its December meeting. The Minutes of that meeting should be much more interesting given there were 3 dissents to even the negligible policy action taken. They're due in January.