Bank of Japan Minutes not shedding too much further light on policy deliberations
Headlines via Reuters:
- members agreed YCC exerting intended policy effect
- some members said review confirmed some fluctuations in bond yields won’t diminish impact of monetary easing
- some members said must scrutinise financial system developments due to accumulating side-effects of easing on banking system
- members agreed BOJ must respond flexibly, effectively without hesitation to changes in economic, price and financial developments
- a few members said appropriate to stress anew that excessive falls in super-long bond yields could hurt economy in long run
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