BOJ board debated risks to growth, easing option in July meeting

TOKYO (Reuters) – Some Bank of Japan policymakers voiced strong concern over heightening risks to the country’s economic outlook and called for the need to brainstorm ways to ramp up stimulus, a summary of their opinions at a July rate review showed on Wednesday.

“The BOJ must communicate more clearly its resolve to take additional monetary easing steps without hesitation if the momentum to achieve its price target is under threat,” one of the nine board members was quoted as saying.

“We must also consider in advance what steps we can take if we were to ease,” the member added.

At the July meeting, the BOJ kept monetary policy steady but pledged to ease without hesitation to forestall risks that could hurt the chance of achieving its 2% price goal.