OKYO (Reuters) - Some Bank of Japan policymakers said the central bank should explain to the public that the economy has yet to reach a phase where the timing and means to exit ultra-loose policy could be considered, minutes of their March rate review showed on Monday.
“While normalization, or a gradual reduction in the degree of monetary accommodation, could become a topic for consideration in the future, the BOJ needs to explain to markets that normalization ... would be different from monetary tightening,” one board member was quoted as saying.
At the March meeting, the BOJ kept policy steady and its governor signaled his readiness to ramp up stimulus if the economy lost steam, in a push-back against lingering speculation it could whittle down monetary support earlier than expected.
Reporting by Leika Kihara; Editing by Chang-Ran Kim
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