Investing.com - Minutes from the Bank of Japan's April meeting release Tuesday showed more doubts among board members on the ability to hit 2% sustained inflation through aggressive easing.
In the minutes, the board members explained that the effect of the yen's past depreciation on pushing up CPI through higher import costs would "wane gradually" as the yen was firmer against the dollar.
They also pointed out that the base wage increase for fiscal 2016 thatbegan April 1 was "somewhat lower" than that for fiscal 2015, and that there was "a high degree of uncertainty" as to whether the move among some firms to raise sales prices and wages would become active again.
The nine-member BoJ board agreed that downside risks to economic activity and prices remain high.