From the Bank of Japan: Summary of Opinions at the Monetary Policy Meeting on July 20 and 21, 2022
Headlines via Reuters:
- Prolonged chip shortage, monetary tightening by some central banks are weighing on global economy
- Must be mindful of risk that monetary tightening by US, European central banks could lead to u.s. Recession, negative market shock and affect japan's economy
- Hard to foresee inflation stably hitting BOJ's target when looking at output gap, inflation expectations
- Various goods, services prices likely to gradually rise as commodity costs expected to stay high for time being
- There is chance companies' price-setting mindset is changing as various firms are hiking prices
- Boj must take additional easing steps without hesitation if needed, maintain forward guidance on interest rates
- Appropriate to decide at Sept policy meeting fate of pandemic-relief programme, given rapid renewed spike in covid infection cases
- BOJ must look not just at underlying inflation figures, but inflation expectations and outlook for prices in guiding policy
- Must accurately gauge wage developments in guiding policy
- Japan's financial system stable as a whole but must be vigilant to risk that at some point, side-effects of monetary easing could materialise
Data released at the same time:
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Earlier we had Tokyo are inflation figures: