Bank of Japan October Policy Meeting Minutes: Several Members Warn of Inflation Risks

BlockBeats News, December 24 — The Bank of Japan’s October Policy Meeting Minutes show that one member stated that inflation expectations for businesses and households have reached 2%, and there is a need to be vigilant about the risk of rising prices. Another member said that fiscal policy is an important factor in setting economic and price forecasts. A minority of members pointed out that core inflation is gradually accelerating but has not yet reached 2%. One member indicated that Japan is expected to achieve the Bank of Japan’s inflation target by spring next year, at which point wage growth may be necessary to reach the goal. Several members noted that yen depreciation could push up import prices, leading to an overshoot of inflation. (Wall Street Journal)