Bank of Japan policymakers debated the feasibility of ramping up stimulus in the...
TOKYO - Bank of Japan policymakers debated the feasibility of ramping up stimulus in the near future when they met for a rate review in September, a summary of their opinions showed on Monday, as intensifying overseas risks cloud the economic outlook.
“There is a significant chance the economy will lose momentum to hit our price target. As such, we should consider whether or not to take additional easing steps,” one member was quoted as saying. “The BOJ needs to consider all possible policy measures without preconception,” the member added. Board members Goushi Kataoka and Yutaka Harada dissented on the decision to keep the BOJ’s yield targets intact, arguing that stronger stimulus measures were needed to fight off risks to Japan’s fragile economic recovery.
But several others appeared wary of pre-committing to action too hastily, signaling that more time was needed to determine whether the benefits of ramping up an already massive stimulus exceeded the costs, the summary showed.
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