BOJ Summary of Opinions (Sept 20/21 meeting) - best to maintain current policy

This 'Summary' precedes the minutes (which are not due until November 6)

• Best way to achieve price goal is to patiently maintain current easy policy
• BOJ must be ready to take necessary action if geopolitical risks heighten and threaten to revive deflation
• BOJ needs to ease policy further to prop up demand given expected impact on economy from scheduled sales tax hike

• Chance of inflation accelerating toward 2% from next year is low

Those quick summary points are via Reuters. Board members sound deflated (sry)

The full text is here:

• Summary of Opinions at the Monetary Policy Meeting on September 20 and 21, 2017

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Here are the decisions/statement from the set meeting:

• BOJ announce no change in policy, as expected

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Its been a busy morning for data from Japan:

• Japan Industrial Production (August preliminary): 2.1% m/m (expected 1.8%)
• Japan Retail Trade (August): -1.7% m/m (expected -0.5%)
• Japan inflation data - National CPI for August: 0.7% y/y (expected 0.6%)
• Overall Household Spending (August): 0.6% y/y (plus jobs data)