Minutes of the Bank of Japan’s Apr 30 meeting revealed a board that is starting to think of once unfathomable ideas. One member stated that the bank ought to begin discussing plans to exit the program to ease liquidity once the economic recovery occurs. Another member said that monetary policy should have a long-term view.
Overall, the temper of the central bank was cautious. For now, no new policies are needed. “A few members said that, although it would take some time for Japan’s economy to achieve a full-fledged recovery, it was likely to recover gradually,” minutes show.