BOJ Minutes: Inflation has stopped declining, QQE and YCC to continue till target met

Bank of Japan [BOJ] minutes of the latest policy meeting shows the board members are optimistic that wage prices will eventually rise and that inflation has stopped declining.

The minutes reiterate that QQE and Yield Curve Control [YCC] will continue till inflation reaches the target of 2%.

Other key points

• Concerns on part of one member of ETF buys, maybe excessive.
• To wit, players noted large pre-snap election PKO-type moves, Nikkei up.
• Jobless rate may have to go down more, output gap improve to reach 2% CPI.
• 2% inflation target defended, global standard, contributes to FX stability.