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Bank of Japan Minutes rehash still serious internal divisions

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Remittance Network News May 8 – The Bank of Japan [microblogging] (BOJ) on Friday (May 8) released the minutes of the April 7-8 meeting, the minutes are basically the same old tune, and the central bank after April 30 day conference on again to maintain the expansion of the monetary base of 80 trillion yen stimulus same year, the conference committee on the proposal to reduce the monetary base is still expanding the scale。It is worth noting that the meeting minutes showed some members warned that private consumption indicators improved relative to the employment and income situation improved somewhat lagging。  The minutes showed the Bank of Japan members agreed that Japan's economy will maintain a moderate recovery trend; adding that in the long run the overall rise in inflation expectations, and agreed that overall private consumption have toughness。  For many members, QQE are playing as expected; CPI accelerated material。  Some members believe that by the impact of energy prices, CPI annual rate may be slightly lower than zero; private consumption indicators improved relative to the employment and income situation improved somewhat lagging behind; companies are cautious about overseas demand。  Several members felt that if the smooth exchange rate fluctuations but also in the long-term business plan, which will boost capital investment。  But Japan's central bank members' comments are not always consistent, and even can be said to be quite divided, October 31 last year when the Bank of Japan unexpectedly widened QQE, internal vote only one vote narrowly ahead, "5-4" agreed to expand stimulate。  The following is the meeting point summary of individual members: One member said, CPI growth will remain very modest, due to weak demand; One member believed QQE side effects than its additional impact; some members considered to be less concerned about government the fiscal consolidation stance