The Summary of Opinions at the Monetary Policy Meeting on June 17 and 18, 2021 precedes the minutes for this meeting by many weeks.
Headlines via Reuters:
- 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.
This article was originally published by Forexlive.com. Read the original article here.