The Bank of Japan has released the "main opinions" of the monetary policy meeting held this month.
Policymakers commented that large-scale monetary easing should be continued in order to raise wages amid rising prices.
The Bank of Japan has released the "main opinions" of the monetary policy meeting held for two days until the 17th of this month.
Among them, there was an opinion that the rapid depreciation of the yen would have a negative effect on the economy because it would increase uncertainty about the future and make it difficult for companies to formulate business plans. It is necessary to pay close attention to the trends in the financial and foreign exchange markets and the impact on the economy and prices. "
Regarding the impact of the weak yen on prices, one member acknowledged that the number of items to be raised is increasing due to the effects of exchange rate fluctuations and rising resource prices, but "a positive cycle accompanied by rising wages, etc." It cannot be said that the original "price stability target" has been achieved, and it is appropriate to maintain the status quo in monetary policy. "
At the meeting, he said, "Achieving a sustainable and stable price increase of 2% requires a higher wage increase." "Continuing monetary easing is effective in supporting sustainable wage increases by companies. There were a number of opinions saying that large-scale monetary easing should be continued in order to realize wage increases.