The Bank of Japan released the "main opinions" of the monetary policy meeting held last month.
While many pointed out the need to continue with the current monetary easing, it was pointed out that dialogue with the market is also important for the so-called "exit strategy," which involves reducing monetary easing.
The Bank of Japan (BOJ) released the "main opinions" of the monetary policy meeting held over two days until the 22nd of last month.
According to the report, the Policy Board member expressed the opinion that "price hikes have been announced one after another, and prices will continue to rise in a wide range of items," but that "the rate of wage increase is low, wide-ranging and It has also been pointed out that it has not led to a significant rise in prices.
At the meeting, it was decided to maintain large-scale monetary easing measures, but in response to this decision, the yen depreciated rapidly in the foreign exchange market, and the government and the Bank of Japan decided to intervene in the market.
At the meeting, while it was recognized that the effects of exchange rate fluctuations should be carefully monitored, it was pointed out that ``the exchange rate is not an object to be directly controlled in the conduct of monetary policy.''
On the other hand, the side effects of prolonged monetary easing have been pointed out, so the meeting said, "When the right time comes, it will be important to have appropriate communication with the market regarding exit strategies." As a result, it was found that it was pointed out that dialogue with the market is also important for the so-called "exit strategy" to reduce monetary easing.