BOJ board members warned of recession risk: October 4-5 minutes
TOKYO (Reuters) - A few Bank of Japan board members warned that a recession in the world's third-largest economy could not be ruled out given recent weakness in industrial production, minutes of the BOJ's October 4-5 policy meeting showed on Friday.
Some members also said that, due to a slowdown in overseas economies, Japan's economy may not return to a recovery path until after the start of next year, the minutes showed.
A representative of the government said at the meeting it was particularly important for the BOJ to produce visible results in achieving its goal of a 1 percent consumer inflation rate.
At that meeting, the BOJ kept policy on hold.
At a subsequent meeting this week, the central bank increased its asset-buying and lending program, its main monetary easing tool, by 11 trillion yen ($137 billion), to 91 trillion yen. It also unveiled a plan to supply banks with unlimited cheap long-term funds under a new scheme initially seen sized around 15 trillion yen.
($1 = 80.1400 Japanese yen)
(Reporting by Stanley White; Editing by Edmund Klamann)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.