Bank of Japan Summary of Opinions report from the most recent meeting, back on October 30 and 31.
Some of the main points, there is little surprising here at all, or ion the full document, linked below.
Sustainable and stable achievement of the price stability target is not yet envisaged with
sufficient certainty at this point, and thus the Bank needs to patiently continue with monetary
easing under yield curve control.
will continue with the framework of yield curve control and the
negative interest rate policy, at least as long as it is necessary for maintaining the price
stability target of 2 percent in a stable manner.
To confirm that this aim has been achieved, it
is necessary to carefully examine future developments in wage hikes and whether the
virtuous cycle between wages and prices is operating from both sides.
extremely high uncertainties surrounding economies and financial markets at home and
abroad, it is appropriate for the Bank to increase the flexibility in the conduct of yield curve
control, so that long-term interest rates will be formed smoothly in financial markets in
response to future developments.
there is still a distance to go before achieving the 2 percent target with the virtuous cycle
between wages and prices, it is important for the Bank to keep supporting the momentum for
wage hikes through continuation of monetary easing.
In this situation, the Bank should
maintain the framework of yield curve control while modifying the conduct of it.