Minutes from the April 30 Bank of Japan meeting:
- Some expressed view that private consumption lacked momentum
- Members agreed that private consumption is likely to remain resilient due to improving incomes
- One member said industrial production in April-June could be more or less flat due to inventory adjustments
More (via Reuters):
- Members agreed that Japan can exceed its potential growth rate from fy 2015 through fy 2016
- Most members said in fy 2017 growth could slow to a level below potential growth rate due to sales tax hike
- A few members said cpi would not reach 2 pct during forecast period which covers fy 2017
- Members agreed that mid- to long-term inflation expectations are rising on the whole
- Many members said risks to prices are skewed to downside due to uncertainty about inflation expectations
- Members agreed that cpi falling to zero might affect inflation expectations
- Members agreed that cpi falling to zero might affect inflation expectations
