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The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Monday, per the BoJ Minutes of the June meeting.  Key quotes A few members said import prices rising due to recent yen fall, creating upside inflation riskOne member said cost-push inflation could heighten underlying inflation if it leads to higher inflation expectations, wage increasesOne member said pass-through of higher labour costs accelerating, could appear in consumer inflationOne member said BOJ might need to consider adjusting degree of monetary easing as inflation might overshoot due to renewed cost-push pressureOne member said BOJ must raise rates at appropriate timing without delayOne member said rate hike must be done only after inflation makes clear rebound, data confirms heightening in inflation expectationsMembers agreed recent weak yen pushes up inflation, warrants vigilance in guiding monetary policyOne member said BOJ’s monetary policy should not be swayed by short-term FX moves Market reaction to the BoJ Minutes At the time of writing, USD/JPY was down 0.61% on the day at 145.65.    Source: https://www.fxstreet.com/news/boj-minutes-import-prices-rising-due-to-yen-depreciation-202408050010

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Filed under: News - @ August 5, 2024 12:24 am