Members pushed back against rate hike idea

by Dramelin 7:30 PM 0 comments

The BOJ also maintained its pledge to guide short-term interest rates at minus 0.
1 percent and the 10-year government bond yield around zero percent.
At the Jan.
30-31 policy meeting, the BOJ raised its growth projections but warned that prospects for hitting its 2 percent inflation target remained uncertain.
These members said the BOJ should focus solely on meeting its 2 percent inflation target, which remains a difficult task due to worries about overseas economies and inflation expectations, the minutes showed.
Bank of Japan board members rejected the notion that the central bank will raise its 10-year government bond yield target in the future to match expected gains in Treasury yields, minutes of their January monetary policy meeting showed on Wednesday.