The Bank of Japan has announced the "main opinions" of the monetary policy meeting held for two days until the 21st of this month.
At the meeting, policymakers pointed out that it is necessary to thoroughly analyze the trend of wage increases, which is the key to sustainably achieving the price target of 2%, but it is necessary to pay attention to the side effects of monetary easing. Was also given.
At this meeting, the Bank of Japan raised its price outlook for this year to + 2.3%, but said that monetary easing would need to boost wage increases and that it would maintain its current large-scale monetary easing policy. I decided.
According to the "main opinions" of the meeting, the policymakers said, "It is necessary to accurately grasp wage trends" and "It is important to look at changes in the distribution of wage increases from multiple angles." It was pointed out that it is necessary to analyze the trends of the above.
On the other hand, the Bank of Japan bought a record 16 trillion yen worth of government bonds last month in order to curb the rise in long-term interest rates, but policymakers said, "It is necessary to pay close attention to the impact on the functionality of the government bond market." Some commented that it is necessary to pay attention to the side effects of monetary easing, such as "At some point in the future, the side effects of monetary easing will become apparent and it is necessary to pay sufficient attention to the risks that affect the financial system."