BoJ minutes: QQE effects firmly taking hold

By FXstreet.com | June 17, 2014 AAA

FXStreet (Bali) - The BoJ minutes just published showed no major surprises, with members unanimously voting to keep increasing the monetary base at an annual pace of about 60-70 trillion yen.



Additional details from the minutes, via Reuters, were:



"Members expressed the view that it was appropriate for boj to continue to steadily pursue QQE, as such easing had been exerting its intended effects."



"Members shared recognition QQE effects continued to firmly take hold."



"Members shared the recognition that, in a situation where nominal interest rates had been stable, real interest rates were declining on the back of a rise in inflation expectations."



"Govt rep said supply-side constraints had surfaced in the form of labor shortages, due to the current sustained economic recovery."



"Members shared view global markets had been calm on whole though some nervousness observed reflecting geopolitical risks such as ukraine."



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