TOKYO :The Bank of Japan must be ready to work further towards improving market functions if needed, a central bank policymaker said at a March meeting, underscoring the bank's concern over the rising cost of its bond yield control policy.
Many BOJ board members said the central bank must maintain its massive stimulus to support the economy and ensure Japan would sustainably achieve its 2 per cent inflation target, the summary of opinions at the March meeting showed on Monday. While steps taken since December have been effective to a certain extent, market functions have not been fixed fundamentally, according to another.
Japan's core consumer prices rose 4.2 per cent in January from a year earlier, hitting a 41-year high on soaring fuel and raw material costs.
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