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Some BOJ board members had doubts on policy overhaul: meeting summary

Published 09/29/2016, 08:21 PM
Updated 09/29/2016, 08:30 PM
© Reuters. A Japanese flag flutters atop the Bank of Japan building in Tokyo

TOKYO (Reuters) - Bank of Japan policymakers engaged in heated debate on the feasibility of overhauling its massive stimulus programme with some board members doubting whether it would enhance flexibility of monetary policy, a summary of opinions at the central bank's September rate review showed on Friday.

"It is uncertain whether the pace of government bond purchases will slow down as intended and the sustainability of monetary easing consequently improve under yield curve control," one member was quoted as saying at the meeting.

"On the contrary, there would be a risk that the bank might need to increase the pace of bond purchases in response to a spike in long-term interest rates," the member said.

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