Some in Bank of Japan see risk of inflation overshoot
2023.05.07 20:32
© Reuters. FILE PHOTO: A man walks past the headquarters of Bank of Japan in Tokyo, Japan, January 17, 2023. REUTERS/Issei Kato/
TOKYO (Reuters) – Several Bank of Japan (BOJ) board members said the central bank must be vigilant to the risk of inflation accelerating more than expected, minutes of the March policy meeting showed on Monday.
A few of the nine-member board also said they saw some “positive signs” emerging in Japan that suggest the economy was making progress towards achieving the BOJ’s 2% target, the minutes of the March 9-10 meeting showed.
At the March meeting, the BOJ maintained its ultra-loose policy, including a 0.5% cap for the 10-year bond yield that had come under attack from markets betting on a near-term interest rate hike in the wake of recent rises in inflation.
