The Bank of Japan should review monetary policy as low growth and low inflation have been prolonged, a board member said at the meeting held on January 20 and 21.
According to the summary of opinions, a member said in Europe and the United States, economic policies have been actively discussed.
"While taking account of fiscal policy and growth strategy, it also would be necessary to review monetary policy in Japan, where low growth and low inflation have been prolonged," the member said.
Some pointed out that possibility of a decline in inflation expectations due to households' and firms' view on the future becoming more cautious.
Since the possibility that the inflation momentum will be lost continues to warrant attention, it is appropriate to maintain a policy stance of being tilted toward monetary accommodation, the summary showed.