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Bank of Japan minutes: Economy, prices on track with forecasts
March 14, 2014 / 12:06 AM / 4 years ago

Bank of Japan minutes: Economy, prices on track with forecasts

TOKYO (Reuters) - Bank of Japan board members agreed that the economy and prices are moving in line with their forecast, minutes of the central bank’s February 17-18 meeting showed on Friday.

A pedestrian holding an umbrella walks on a street covered by snow near the Bank of Japan building in Tokyo February 15, 2014. REUTERS/Yuya Shino

Members also agreed that the sales tax hike next month in Japan will not derail the economy and that risks posed by overseas economies have receded.

The BOJ kept monetary policy steady at that meeting and extended special loan programs to help buoy bank lending, brushing off data showing weak growth in the fourth quarter of last year.

At a subsequent meeting on March 10-11, the BOJ kept policy on hold, lowered its assessment of exports and raised its view of capital expenditure.

Reporting by Stanley White; Editing by Edmund Klamann

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