BOJ Minutes - Now is the time to mull raising rates

The Bank of Japan (BOJ) March meeting minutes released this Tuesday morning in Asia to consider raising rates. The minutes said, “Now is the time to mull raising rates and reduce JGB purchases to the extent possible”.

Key quotes

Many members say it is not appropriate to raise the long term rate target

Some members believe price labour moves suggests a virtuous cycle is in place

Members agreed that it is not appropriate to raise yield target in line with the rise in the overseas yield

One member said large JGB purchases in Jan to slow gains in the yields showed weakness of Yield Curve Control