The Bank of Japan released the minutes of its monetary policy meeting held in January.
The policy was revised at the previous meeting, and at that time, the market speculated that additional policy revisions would be made, but it was found that there was a series of opinions that it was necessary to take time to assess the impact.
At its December meeting last year, the Bank of Japan reviewed the operation of monetary easing measures that manipulate long-term and short-term interest rates, and revised the upper limit of the fluctuation range of long-term interest rates, but maintained the policy at the January meeting. decided to
According to the published minutes of the meeting, many members shared the view that it is necessary to take some time to assess the impact of the operational review in December last year on the functioning of the market.
In connection with this, one member expressed the opinion that "reviewing the operation without waiting for time may actually increase the uncertainty regarding future policy management."
In addition, another member expressed the opinion that "we should carefully examine trends in market functions and, if necessary, discuss investment management again."
Based on these discussions, the Bank of Japan decided to maintain its large-scale monetary easing measures, and decided to maintain the policy at its subsequent meeting last week.