According to BlockBeats, the minutes from the Bank of Japan's October policy meeting reveal that one member noted inflation expectations among businesses and households have reached 2%, highlighting the need to be cautious of rising prices. Another member emphasized the importance of fiscal policy in setting economic and price forecasts.
A few members pointed out that core inflation is gradually accelerating but has not yet reached the 2% target. One member expressed optimism that Japan could achieve the Bank of Japan's price target by next spring, suggesting that wage growth might be necessary to meet this goal.
Several members indicated that the depreciation of the yen could lead to inflation overshooting by increasing import prices.
