BoJ Summary of Opinions from the June meeting stated it is appropriate to maintain current monetary easing

Says:

• Wage growth is needed, not just cost-push inflation to sustainably and stably hit the price target.
• Premature to shift policy as smaller firms become keen to hike wages and invest more.
• BoJ must maintain easy policy with an eye on side-effects, as long-term risks to prices are skewed to the downside.
• Must keep easy policy but must be mindful of chance it is under-estimating sustainability of Japan's price rises.
• No need to make operational tweaks to YCC as distortion in shape of yield curve has been resolved.
• BoJ must consider reviewing YCC at an early stage, even as it maintains easy monetary policy.
• There is uncertainty on whether inflation, after slowing toward the middle of the current fiscal year, will bounce back.
• Inflationary pressure is likely to remain strong for the time being.
• There is a chance consumer inflation will overshoot initial expectations.
• There is a strong chance that consumer inflation may moderate, but won't slow back below 2% towards middle of current fiscal year.

Via BoJ