BoJ January policy meeting Summary of Opinions - more time needed to assess December move

From that meeting:

• BOJ announces no change to JGB yield band

The BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with Read this Term did do a little tinkering:

• BOJ unveils new tool to defend yield control policy

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Summary main points:

• its appropriate to maintain current monetary easing including YCC
• BoJ must keep yields from rising across the curve
• BOJ must remain mindful of bond market functioning
• more time is needed to assess the impact of the December move
• must continue to point out to markets that it'll take time to hit the inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term target
• a policy review must be undertaken at some point, but for now loose policy is needed
• Japan CPI is expected to slow its pace of rise in H2 of the next fiscal year

• it could take time for wages to rise sustainably

Full text is here:

Summary of Opinions at the Monetary Policy Meeting on January 17 and 18, 2023