The Bank of Japan's Minutes of the monetary policy meeting on July 15 and 16, 2021 have been released and details are trickling through as follows:
Key points
Bank of Japan members agreed to ease more without hesitation if needed.
A few members said the rise in wholesale prices is not translating much to consumer inflation.
A few members said the full-fledged recovery in japan's economy might be delayed somewhat.
One member said must be mindful of the risk of China's economic growth may slow ahead.
One member said must be mindful of the risk of fund outflow from emerging economies if the US long-term rate rises accelerate.
Members agreed there was uncertainty on whether companies will gradually change price-setting behaviour once the impact of the pandemic subsides.
One member said recent global commodity inflation reflected a rise in global demand, so positive for japan's economy.
Govt rep said BoJ's new climate change scheme is timely, in line with govt's efforts to achieve a green society.
There was no reaction in the yen to the details.
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