Investing.com - The Bank of Japan saw some members question the sustained imact of aggressive easing on the pace of yen weakening and inflation expectations in the Wednesday release of the July minutes of the nine-member board.
At least two members of the board suggested that inflation expectations have either weakened or are lower, something BoJ Governor Haruhiko Kuroda told reporters after the July meeting that "some board members" were more cautious about their inflation outlook.
The BoJ held policy steady at its latest meeting last week with the outlook largely stable with previous forecasts for economic recovery.
Still, the majority of the board still believe Japan can achieve the 2% inflation target by around the six-month period ending September next year, overcoming current zero inflation, the minutes said.
At its July meeting, the BoJ board decided by an 8 to 1 vote to leave the bank's policy target unchanged (one member continued to propose a less stimulative policy target) while revising down their inflation projections slightly for the next few years amid slowing global growth.
Data released before the July meeting showed that Japan's core consumer price index - excluding volatile perishables - rose 0.1% on year in May, slowing from a 0.3% gain in April.
The latest data released later showed that the pace of year-on-year increase in core CPI remained at a gain of 0.1% in June.