BOJ June policy meeting Summary of Opinions

•  BOJ has approached time when it needs to show direction on what it
  can do on climate change via monetary policy
• BOJ’s response on
  climate change must be tied to its mandate of achieving stable
  economy
• BOJ must make its
  climate change scheme flexible one
• BOJ can avoid
  getting directly involved in income distribution by back-financing
  loans, investment banks make on climate change
• govt rep said BOJ’s
  plan on climate change is timely
• Japan’s inflation
  likely to accelerate as pent-up demand begins to appear in latter
  half of this year
• Japan’s prices
  likely to lack momentum despite support from rising commodity costs,
  improvement in demand
• inflationary
  pressure likely to remain subdued in Japan due to sticky deflationary
  mindset

I bolded the remarks on inflation. The BOJ pretty much always expresses a degree of optimism that inflation will rise, but for a decade or more they have missed their target by a long, long way and continue to do so.