Bank of Japan Policy Board Minutes

The Bank of Japan published the minutes from its 14 and 15 June Monetary Policy Meeting on 18 July. The minutes showed the board voted down in mid-June two proposals to cut its liquidity target, including one proposal to reduce it to just 25 trln yen.

Board member Toshikatsu Fukuma proposed cutting the target range for liquidity -- or for the outstanding balance of current account deposits by commercial banks at the central bank -- to 27-32 trln yen, according to the minutes, which were releas