BOJ Member Sought Tweak in Easing

Jiji Press

13:23 JST, November 10, 2023

TOKYO (Jiji Press) — A Bank of Japan policymaker said at the central bank’s most recent policy meeting that its massive monetary easing should be gradually tweaked “down from its maximum level,” according to minutes of the Oct. 30-31 meeting released by the bank Thursday.

As the reason for calling for the policy adjustment, the Policy Board member said that the likelihood of Japan’s consumer inflation posting 2%, a target set by the BOJ, “in a sustainable and stable manner seems to have risen further” since the previous policymaking meeting in July, according to the minutes.

At the October meeting, the BOJ decided to allow 10-year Japanese government bond yields to rise above 1% to some extent.