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Bank of Japan Minutes: Sentiment remains cautious, global slowdown fears have risen

The minutes of the July meeting of the Bank of Japan indicate that members share the view that market sentiment remains cautious and global slowdown fears have risen.

key notes

Some members said that price gouging is spreading in japan.

One member said that salary pressures are increasing.

Some members said that consumer inflation will slow next fiscal year, unless commodity prices continue to rise.

One member said that in Japan there is increasing scope for a sustained rise in inflation.

Members shared the view that keep a close eye on movements in the financial and currency markets and its impact on the economy and prices.

Members shared the view that rapid fluctuations in the foreign exchange market need to be closely watched for their impact on inflation.

One member said pressure from a weak yen could ease as the global economic slowdown weighs on global inflation, leading to lower long-term rates.

About the BoJ minutes

The Bank of Japan meets every month for two days to review the development of the economy both inside and outside the country. In these meetings, its fiscal policy and its perspectives for the future are also shown. Any change in fiscal policy tends to affect the volatility of the yen, in this way, if the BoJ shows an optimistic and strong outlook for the economy, it is perceived as bullish for the yen, on the contrary, if the BoJ is pessimistic and weak in its report, it will be bearish for the currency.

Source: Fx Street

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