BoJ members shared the view that CB needs to support the economy, which is being squeezed by rising commodity prices

The Bank of Japan minutes showed policymakers agreed on the need to maintain ultra-low interest rates to support a fragile economy, as Reuters reports, and to ensure that rising inflation is matched by higher wages, as their minutes say June rate-setting meeting showed on Tuesday.

key notes

“However, some on the nine-member board saw that the price hikes were spreading, changing long-held public perceptions that inflation and wages would no longer rise sharply in the future, the minutes showed.

At the June meeting, the BOJ kept interest rates ultra-low and pledged to defend its bond yield ceiling with unlimited buying to resist a global wave of monetary tightening to show its determination to focus on supporting a tepid recovery to concentrate.”

USD/JPY update

USD/JPY was offered lightly in Tokyo as the US dollar continues to bleed out at 136.20 on the radar as a key area of ​​the upward correction on the hourly timeframe: