- Taking a page out of the Fed's book, many BOJ board members "expressed hope that the government [will] steadily promote steps to achieve fiscal consolidation," minutes from the central bank's August 7-8 meeting show.
- Members also noted that long-term rates remained "more or less flat throughout the intermeeting period."
- Nevertheless, "one member pointed out that, if the government's stance in terms of fiscal consolidation were to weaken ... long-term interest rates could rise", hindering the central bank's efforts.
- Full release (.pdf)
- Related: Citing no sources, the Asahi newspaper says Prime Minister Shinzo Abe "has decided the economic recovery is robust enough to withstand a planned sales tax increase," Reuters says.
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Bank of Japan minutes show members concerned about fiscal policy
Sep 9 2013, 23:14 ET