Bank of Japan Policy Board Minutes

The Bank of Japan published the minutes from its 27 July and 8-9 August meetings on 13 September. Two of the nine policy board members again proposed cutting the 30-35 trln yen liquidity target for banks, according to the minutes.

The proposal was rejected by a majority vote with the board deciding to keep the target range in order to help the Japanese economy overcome deflation.

At the Aug 8-9 policy meeting, Katsutoshi Fukuma proposed reducing the outstanding balance of current account deposits

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