BOJ Members Differed on Hitting Price Target as YCC Was Tweaked
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One Bank of Japan policy board member said it might be possible to discern that the bank’s long-sought inflation target has been achieved during the first quarter of 2024, according to minutes from the July meeting published Wednesday.
The board member’s view contrasts with a more pervasive stance that hitting the price target isn’t yet in sight during the July 27-28 deliberations where the bank surprised financial markets by effectively raising the upper limit of long-term bond yields under its yield curve control program.