BOJ agreed to keep low rates, divided on exit timing – July meeting minutes

TOKYO : Bank of Japan policymakers agreed on the need to maintain ultra-loose monetary policy but were divided on how soon the central bank could end negative interest rates, minutes of its July meeting showed on Wednesday.

One member said there was “still a significantly long way to go” before the BOJ can revise its negative interest rate policy, the minutes showed.

Another member, however, said achievement of the BOJ’s 2 per cent inflation target had “clearly come in sight,” adding that it might be possible to assess whether the target has been met “around January through March 2024,” the minutes showed.