BOJ board agreed on need for ultra-low rates: June meeting minutes
2022.07.26 03:21
FILE PHOTO: A man wearing a protective mask walks past the headquarters of the Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon
TOKYO (Reuters) – Bank of Japan policymakers agreed on the need to maintain ultra-low interest rates to support a fragile economy and ensure rising inflation was accompanied by higher wages, minutes of their June rate-setting meeting showed on Tuesday.
Some in the nine-member board, however, saw price rises broadening and leading to changes in long-held public perceptions that inflation and wages would not rise much in the future, the minutes showed.
At the June meeting, the BOJ maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid recovery.
