BOJ minutes: Many members said measures of inflation expectations stopped falling

 Bank of Japan July meeting minutes  Many members said:

  • Companies likely to gradually shift towards raising wages and prices
  • Measures of inflation expectations had stopped declining
  • BOJ should continue with QE and YCC

One member said:

  • ETF purchases are excessive, will have adverse impact on pricing of stocks
  • 2% goal is constraint on flexible monetary policy
  • 2% goal makes it hard to normalise monetary policy

A few members said:

  • Unemployment rate and output gap need to improve further to reach 2% inflation target

            more to come
Full text here

—So I’m thinking its nearly October and these are the minutes of the July meeting???On the other hand, at least we do get a much earlier guide to the meeting in the «Summary of Opinions» of the meeting, which for July came out much earlier.For more on the July meeting:

  • There was no change to policy: BOJ announce: No change to monetary policy, upgrade economic outlook
  • From Kuroda’s presser: More from Kuroda (3): It’s important for prices to rise in tandem with wages
  • It was also a farewell party: BOJ says goodbye to two persistent dissenters
  • The squidsters were happy: Goldman Sachs on the BOJ & Kuroda — ‘exit from QQE now looking more remote’

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