Japanese policymakers plan to expand the country’s monetary policies in the recent review in September that sums up the opinions of the Bank of Japan’s board members meeting on Friday. This implies that the divisions are improving directed by the policies. Majority of the board members agrees to sustain the current stimulus program even if it would take time to reach the inflation target rate of 2 percent. Although, it was not clear who gave comments in particular and which direction it would go. One member, Goushi Kataoka has expressed contradiction on keeping the rates and be hawkish instead, implying that the current policy is not enough to boost the inflation and reach the 2 percent target. He specifically mentions the need for an expansion of monetary easing since the sales tax are expected to be increased in October 2019 moving towards the goal. Some members raised concerns regarding the serious problem of North Korea and how it would affect the country. A member commented that if the geopolitical tension further escalated, the BOJ has to be ready in handling the situation by making necessary policy adjustments to avert the deflationary idea. The monetary policy meeting of the BOJ has kept its short-term interest rate target at -0.1 percent and a potential to set the 10-year government bond yields close to zero percent. The central bank already expects that the price target of the central bank would take some time and requires patience to keep the current policy.
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