Japan’s central bank officials agreed at a meeting in September that the outline for achieving the inflation target, including higher wages for workers, was still unclear.
The matter is known from the minutes of the Bank of Japan or BoJ’s policy-making meeting.
BOJ officials decided to stick with their policy of massive monetary easing at the September meeting.
They agreed that the central bank would consider revising its policy if its target of achieving a sustainable and stable inflation rate of 2% is realised. However, they also said a high level of uncertainty prevented them from making any decisions in detail.
Yet the minutes show that the second half of the current fiscal year, from October to March, will be an opportunity to determine whether that goal will be met, a board member said. Officials expect to see progress in salary increases for next year.
Another member is talking about the period from January to March.
Another of the officials stressed the importance of communication. They said there is a need to keep the public well informed that the central bank’s withdrawal from a policy is about to begin.