Bank of Japan June meeting minutes
- A few members said import prices rising due to recent yen fall, creating upside inflation risk
- One member said cost-push inflation could heighten underlying inflation if it leads to higher inflation expectations, wage increases
- One member said pass-through of higher labour costs accelerating, could appear in consumer inflation
- One member said BOJ might need to consider adjusting degree of monetary easing as inflation might overshoot due to renewed cost-push pressure
- One member said BOJ must raise rates at appropriate timing without delay
- One member said rate hike must be done only after inflation makes clear rebound, data confirms heightening in inflation expectations
- Members agreed recent weak yen pushes up inflation, warrants vigilance in guiding monetary policy
- One member said BOJ’s monetary policy should not be swayed by short-term fx moves
