Bank of Japan policymakers debated the country's progress towards achieving their inflation target and the pace at which they could roll back stimulus at new governor Kazuo Ueda's debut meeting in April, a summary of opinions at the meeting showed.
Some in the board also flagged the side-effects of the BOJ's bond yield control and possible repercussions in case it raises interest rates in the future, the summary showed on Thursday, a sign the central bank was becoming more open to the idea of a future policy shift.
"I'll be closely watching the results of upcoming BOJ bond market surveys as I feel yield curve control is disrupting smooth market function," another opinion showed., the BOJ kept ultra-low interest rates but announced a plan to review its past monetary policy moves. It also removed guidance pledging to keep interest rates at "current or lower levels" in a move that gives the BOJ more flexibility in raising interest rates.
While many board members saw the need to keep monetary policy ultra-loose for the time being, some saw growing signs of progress towards sustainably achieving 2% inflation.
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