TOKYO : Bank of Japan board members agreed at a policy meeting in September to continue monetary easing patiently so as to achieve a sustainable inflation target in tandem with wage growth, minutes of its September meeting showed on Monday.
FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo
Several members said abolishing a negative rate and yield control policy would have to be discussed together with any successful achievement of the BOJ's 2 per cent inflation target. At the Sept. 21-22 meeting, the BOJ stuck to its easy money settings and its pledge to support the economy until inflation sustainably hits its 2 per cent target, suggesting it was in no rush to phase out its massive stimulus programme.
Last Tuesday, the central bank further loosened its grip on long-term interest rates by tweaking its bond yield control again on Tuesday, taking another small step towards dismantling its controversial monetary stimulus of the past decade. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.