Some at BOJ worried about recovery delay

Kyodo

Some of the Bank of Japan’s policymakers were concerned last month that the economy wouldn’t recovery as quickly as expected amid slowing global growth, according to minutes of their two-day meeting through Dec. 21.

The Policy Board members said that, compared with the economic forecast the BOJ issued in October, the slowdown overseas appeared to be “somewhat more advanced” and demand linked to reconstruction from the March 11 disasters will be “slightly delayed.”

As for Europe’s sovereign debt problem, all nine members of the Policy Board agreed that the crisis could lead to weaker growth not only in Europe but worldwide.

The members agreed it was necessary “to continue to pay attention to future developments.”