Bank of Japan policymakers disagreed over the appropriate level of bond yields, minutes from their meeting last month show, a sign of the strain on the BOJ's monetary framework as the global economy weakens.
One member said long-term yields should be allowed to temporarily turn negative, according to minutes of the Dec. 19-20 Policy Board meeting released Monday. The minutes do not identify the board members by name.
Another member agreed, saying yields have fallen due to worries about the U.S.-Chinese trade war and that conducting market operations to raise yields would tighten monetary policy.