The Bank of Japan has released the ``main opinions'' of last week's Monetary Policy Meeting, which decided on a change in large-scale monetary easing measures, including the lifting of negative interest rates, and members said that there is no need for rapid interest rate hikes even after negative interest rates are lifted. It turned out that there were a number of statements regarding the so-called exit policy going forward, such as the need to emphasize a cautious stance.
The Bank of Japan has released the ``main opinions'' from its meetings held on the 18th and 19th of this month.
According to the report, ``Since this year's wage increase has been confirmed as a symbolic change, it is necessary to review policy responses and shift to a phase where the market functions autonomously.'' There were many positive opinions about a change in policy, such as, ``It is entirely possible to shift to monetary easing without causing a short-term shock.''
Although some members pointed out that there was a risk of putting a damper on the momentum of the virtuous cycle and delaying the achievement of the price target, the majority vote was in favor of lifting the negative interest rate policy.
In addition, at the meeting, there were comments such as, ``Even if negative interest rates are lifted, we need to emphasize a cautious stance because the situation does not require a rapid rate hike,'' and ``It is important to leave interest rate formation to the market as much as possible.'' There have been a number of statements regarding policy, and the focus will be on how the Bank of Japan will manage policy going forward.