BOJ policymakers wary of economic outlook at latest meeting

March 26, 2019

Tokyo--Many Bank of Japan policymakers were wary of the future course of the domestic economy at their latest March 14-15 policy meeting, according to a summary of their opinions released by the central bank on Tuesday.

One opinion mentioned the risk of an economic downturn "depending on developments in overseas economies and the effects of the scheduled consumption tax hike (in October)."

Support for the continuation of the BOJ's current monetary easing policy was also a dominant view at the Policy Board meeting.

"Monetary policy is not something that should automatically respond to each economic change," a participating member of the board claimed.

However, another board member insisted that it is "important to make preemptive policy responses" to any changes in the economic and price situations.

A different member said the BOJ "should be prepared to make policy responses" as "downside (economic) risks are materializing." Jiji Press