The Summary of Opinions at the Monetary Policy Meeting on June 17 and 18, 2021 precedes the minutes for this meeting by many weeks.
Headlines via Reuters:
- BOJ has approached time when it needs to show direction on what it can do on climate change via monetary policy
- BOJ's response on climate change must be tied to its mandate of achieving stable economy
- BOJ must make its climate change scheme flexible one
- BOJ can avoid getting directly involved in income distribution by back-financing loans, investment banks make on climate change
- govt rep said BOJ's plan on climate change is timely
- Japan's inflation likely to accelerate as pent-up demand begins to appear in latter half of this year
- Japan's prices likely to lack momentum despite support from rising commodity costs, improvement in demand
- inflationary pressure likely to remain subdued in Japan due to sticky deflationary mindset
I bolded the remarks on inflation. The BOJ pretty much always expresses a degree of optimism that inflation will rise, but for a decade or more they have missed their target by a long, long way and continue to do so.
