BOJ Minutes: Inflation expectations remain weak

Minutes of the Bank of Japan (BOJ) policy meeting of April 26 released today show the policymakers expect the inflation expectations to remain weak. 

Key points

One member said JGB purchases cannot be maintained next year unless the Bank starts reducing its purchases now

Exports will continue to show solid gains

JBG purchases will fluctuate somewhat under the Yield Curve Control policy

One member favors an incremental cut in the asset purchases

Many members see risks to the economy skewed to the downside

Few members see CPI not reaching 2% during the projection period