Bank of Japan policymakers were divided on prospects for achieving their 2% inflation target with some warning that it could take time for wages to rise sustainably, a summary of opinions from their latest meeting showed on Thursday.
The divergence in views highlight the challenge policymakers face in determining whether the recent cost-driven rise in inflation will shift to one backed by robust demand and higher wages — a prerequisite for raising ultralow interest rates.
At the January meeting, many board members agreed on the need to retain ultraloose monetary policy to support the economy and help companies raise pay, the summary showed.