BOJ Monetary Policy Navigator

  • Feb 05, 2024

BoJ proceeds cautiously towards unwinding of NIRP     

Key points
  • Summary of Opinions for January Policy Board meeting contained much talk of "exit" and marked sharp shift of tone from December meeting

 

  • Exit discussions are clearly under way, and Board members appear to be gradually forming consensus on post-NIRP policy conduct

 

  • By releasing "Summary" that focuses attention on exit, BoJ may be trying to revive speculation of policy revisions after it faded in mid-December