Bank of Japan June meeting minutes – view that import prices rising due to yen fall

Bank of Japan June meeting minutes

• A few members said import prices rising due to recent yen fall,
  creating upside inflation risk
• One member said
  cost-push inflation could heighten underlying inflation if it leads
  to higher inflation expectations, wage increases
• One member said
  pass-through of higher labour costs accelerating, could appear in
  consumer inflation
• One member said BOJ
  might need to consider adjusting degree of monetary easing as
  inflation might overshoot due to renewed cost-push pressure
• One member said BOJ
  must raise rates at appropriate timing without delay
• One member said rate
  hike must be done only after inflation makes clear rebound, data
  confirms heightening in inflation expectations
• Members agreed
  recent weak yen pushes up inflation, warrants vigilance in guiding
  monetary policy
• One member said
  BOJ’s monetary policy should not be swayed by short-term fx moves

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