BOJ meeting minutes are preceded, by many, many weeks, but the 'Summary of Opinions' of the meeting

Which makes the minutes usually rather stale news. And, even more so this time given the results of the huge Bank of Japan policy review were released alongside the March meeting statement only last week.

But, minutes here (link): Minutes of the Monetary Policy Meeting on January 20 and 21, 2021

Super secret!

BOJ meeting minutes are preceded, by many, many weeks, but the 'Summary of Opinions' of the meeting

Headlines via Reuters:

  • members agreed the BOJ must ease without hesitation if needed with eye on pandemic fallout on economy
  • one member said march review must check whether YCC, asset purchases are exerting intended effects
  • one member said BOJ must scrutinise side-effects of easy policy such as its impact on financial intermediation, market functions
  • one member said allowing 10-year yields to fluctuate in line with BOJ's current directive will help stabilise financial system
  • one member said even if long-term rates are allowed to fluctuate more, impact on economic activity will be limited
  • one member said must seek ways to avoid excessive flattening of yield curve, increase scope to cut rates without hesitation if needed
  • one member said BOJ must discuss strategy for achieving its 2% inflation target
  • one member said BOJ must seek ways to guide its policy that assist efforts toward digitalisation, carbon-free society
  • one member said it is not easy to use monetary policy to address structural challenges to economy

This one ...

  • one member said BOJ must discuss strategy for achieving its 2% inflation target

makes me wonder what they've been doing up to now then?