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BOJ July minutes - Board members seek to stay with current framework

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BOJ July minutes - Board members seek to stay with current framework

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TOKYO (Reuters) – Bank of Japan policymakers said that they should stick with their current policy framework and that there was reason to be optimistic about consumer prices because measures of inflation expectations had stopped falling, minutes of their July 19-20 meeting showed on Tuesday. A few members also said Japan’s jobless rate and output gap need to improve even further to build momentum to reach the central bank’s 2 percent inflation target, the minutes showed. The BOJ kept monetary policy on hold at the meeting in July but pushed back the timing for reaching its inflation target for the sixth time since Governor Haruhiko Kuroda launched quantitative easing in 2013. At a subsequent meeting on Sept. 20-21, one new member on the BOJ’s board opposed the central bank’s decision to keep monetary policy on hold, arguing that the current framework is not sufficient to generate inflation.

(Reporting by Stanley White; Editing by Chang-Ran Kim)
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