BoJ board divided ahead of new governor appointment

Dissenter: Takehiro Sato

A 2% inflation target is impractical and could be damaging to the Bank of Japan's credibility, according to members of the central bank's policy board who voted against the decision to adopt the new target on January 22.

Minutes published today reveal that "a few members" expressed misgivings about the move at the monetary policy meeting in January. Takehiro Sato and Takahide Kiuchi ultimately voted against a change of target, but were overruled by their seven colleagues.

The minutes noted

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