The Summary of opinions follows the meeting quickly afterwards, way ahead of the full minutes.
Here is the link for the full text: Summary of Opinions at the Monetary Policy Meeting on April 24 and 25, 2019
Quick summary of the main points via Reuters:
- There continues to be risk Japan may slide into recession depending on sales tax hike impact, overseas developments
- Uncertainty on price outlook will persist through fiscal 2021
- Must scrutinise whether Japan is in a protracted situation where soft inflation weighing on inflation expectations, vice versa
- Must maintain current easy policy with eye on side-effects, also need monetary and fiscal policy mix toward fiscal 2021
- Must always think about ways to boost sustainability of policy framework
- Appropriate to review forward guidance on interest rates due to heightening overseas uncertainties
- Appropriate to clarify forward guidance, such as by mentioning time frame on how long boj will keep rates very low
- Must ease policy further decisively, flexibly if momentum for achieving price target lost
- Must carefully balance benefits, costs of monetary easing
- Further declines in interest rates could aggravate demerits of monetary easing more than boosting economy
- Must adjust monetary policy framework, strengthen its sustainability as needed for achievement of price goal
