Bank of Japan January meeting minutes – rising likelihood of hitting inflation target

Minutes of the Bank of Japan Monetary Policy Meeting on January 22 and 23, 2024, full text here

• Members agreed on the rising likelihood of hitting the Bank’s inflation target, the prospect of doing so was gradually rising
• Virtuous cycle of wages and inflation, if confirmed, means members would consider ending negative rates and other steps
• Upside risks of inflation greatly overshooting to the topside have become small according to some members

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This all very dated of course given the Bank moved to tighten at the following, March, meeting.

This article was written by Eamonn Sheridan at www.forexlive.com.