BoJ Minutes: Members firmly focus on upside inflation risk

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the June meeting.   

Key quotes

Most members agreed economy progressing as baseline, risks persist inflation could exceed 2% target. 

One member noted FX factors are driving import prices higher, impacting smaller companies. 

One member said Japan's real interest rate is unusually low by global standards, must be adjusted given inflation upside risks.