Investing.com - The Bank of Japan board was largely in agreement that prices will rise in the longer term, though one member said it would show up moderately in consumer inflation, according to minutes of the June monetary policy meeting released on Tuesday.
However, other members said the impact of the quantitative easing to buy ¥80 trillion of mostly government bonds annually has had a big impact on the economy and higher prices are spreading and are also driven by higher wages.
Board member Takahide Kiuchi has been the lone dissenter in recent reviews by the nine-member board, calling for the easing program to be scaled back to ¥45 trillion.