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Bank of Japan policymakers said the bank should persistently continue with powerful monetary easing as there is still a long way to go to achieve the inflation target, according to Summary of Opinions at the meeting held on June 14 and 15.
Further, policymakers said as the reason for the sluggishness in prices is unlikely to be merely a shortage of demand, it is not appropriate to adopt a policy that would forcibly push up demand in a short period of time.
The board viewed that it should make efforts to improve communication and enhance the commitment in a broad sense toward achieving the price stability target of 2 percent.
At the June meeting, the board voted 8-1 to hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion. The bank will also purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent.
