Bank of Japan board agreed on need for ultra-low rates: June meeting minutes

BANK of Japan policymakers agreed on the need to maintain ultra-low interest rates to support a fragile economy and ensure rising inflation was accompanied by higher wages, minutes of their June rate-setting meeting showed on Tuesday.

Some in the nine-member board, however, saw price rises broadening and leading to changes in long-held public perceptions that inflation and wages would not rise much in the future, the minutes showed.

At the June meeting, the BOJ maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid recovery. REUTERS