TOKYO (Reuters) – Bank of Japan (BOJ) board members saw the need to maintain ultra-loose monetary policy to prop up wages and spur demand-driven rise in inflation, a summary of opinions at their June policy meeting showed on Monday.
Sharp yen falls would hurt Japan’s economy by heightening uncertainty over the outlook, one BOJ board member was quoted as saying at the meeting.
At the June 16-17 meeting, the BOJ maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid economic recovery.
(Reporting by Leika Kihara; Editing by Shri Navaratnam)
