Dissent Among Bank of Japan Board Members Over Policy Easing?

Are Bank of Japan’s board members considering ramping up stimulus efforts soon? According to a summary of their discussions published on Friday, one board member has urged for all policy measures being explored to be tabled and deliberated when considering additional easing in monetary policy.

According to this same board member, “Amid changes in the external environment such as growing expectations for monetary easing in the United States and Europe, the BOJ also needs to strengthen monetary easing.”

While the summary does not reveal the identity of this individual, the other nine members have called to maintain the current stimulus efforts for now. They are of opinion that the Japanese economy has managed to grow at a moderate pace so far notwithstanding the global trade tensions.

The published summary reveals a difference of opinion among the central bank’s board members regarding the effectiveness of the ultra-loose monetary policy and how it is affecting profits of financial institutions in Japan.