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BOJ Statement on Monetary Policy
At the Monetary Policy Meeting held today, the Policy Board of the Bank ofJapan decided, by a 7-2 majority vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call rate to remain at around 0.5 percent. Voting for the action: UEDA Kazuo, HIMINO Ryozo, UCHIDA Shinichi, NOGUCHI Asahi, NAKAGAWA Junko, KOEDA Junko, and MASU Kazuyuki. Voting against the action: TAКАТА Hajime and TAMURA Naoki. Takata Hajime considered that there had been a shift away from the deflationary norm and the price stability target had been more or ... (full story)
Added at 10:32pm
- BOJ BOARD MEMBERS TAKATA, TAMURA DISSENTED TO DECISION ON RATES
BOJ BOARD MEMBERS TAKATA, TAMURA PROPOSED RAISING SHORT-TERM INTEREST RATE TARGET TO 0.75% FROM 0.50%
PROPOSALS BY TAKATA, TAMURA TURNED DOWN BY MAJORITY VOTE
BOJ'S TAKATA CONSIDERED THERE HAD BEEN A SHIFT AWAY FROM THE DEFLATIONARY NORM AND THE PRICE STABILITY TARGET HAD BEEN MORE OR LESS ACHIEVED
BOJ'S TAMURA CONSIDERED WITH RISKS TO PRICES BECOMING MORE SKEWED TO THE UPSIDE, THE BANK SHOULD SET THE POLICYINTEREST RATE A LITTLE CLOSER TO THE NEUTRAL RATE
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