According to ChainCatcher, the minutes of the Bank of Japan's October policy meeting revealed that one member stated that inflation expectations among businesses and households had reached 2%, and the risk of rising prices must be monitored. Another member noted that fiscal policy is a crucial factor in setting economic and price forecasts.
A few members noted that core inflation is gradually accelerating but has not yet reached 2%. One member stated that Japan is expected to achieve the Bank of Japan's price target next spring, at which point wage growth may be necessary to reach the target.
Several committee members stated that the depreciation of the yen could lead to excessive inflation by pushing up import prices.
