The Bank of Japan meeting last September pointed that they may need time before inflation reaches 2%. The main points of the results of the meeting were as follows:
- Maintain inflation momentum to 2%
- The Bank will take into account the side effects of monetary policy
- Few members indicated that there were some market views that the BoJ policy was unclear
- A member of the bank said that the board should discuss a time frame for quantitative easing because there are limits to maintaining policy for a long time
- Another member said that the Bank of Japan has room to be more flexible about future policy if the output gap remains in the positive region
- One member called for more policy facilitation, because the mitigation effect could fade over time.
