The Bank of Japan 'Summary' of Opinions of the October meeting.
Summary headlines via Reuters
- appropriate to continue monitoring the impact of current policy
- BOJ must respond swiftly, appropriately as needed while in close cooperation with govt, major central banks
- BOJ must act in a timely fashion as needed while being extra vigilant to abrupt market moves
- must avoid premature withdrawal of easy policy with an eye on chance battle with pandemic could be prolonged
- overnight call rates seeing increased upward pressure, so BOJ must communicate appropriately to avoid giving markets perception its policy is becoming less accommodative
- desirable to guide 10-year JGB yields around zero, while allowing for longer end of yield curve to steepen at moderate pace
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At the Oct. meeting the BOJ held policy unchanged and downgraded their view on fiscal year 2020 economic growth & CPI.
