BOJ minutes: need to pay attention to geopolitical risks

TOKYO Thu Jul 17, 2014 8:31pm EDT

A security guard salutes at the entrance of the Bank of Japan building in Tokyo January 22, 2014.  REUTERS/Yuya Shino

A security guard salutes at the entrance of the Bank of Japan building in Tokyo January 22, 2014.

Credit: Reuters/Yuya Shino

TOKYO (Reuters) - Bank of Japan policymakers agreed that geopolitical risks posed by Ukraine and Iraq need to be monitored, minutes of the central bank's June meeting showed on Friday.

A few members said a decline in long-term interest rates globally could reflect expectations for weaker growth in the medium- to long-term, minutes of the June 12-13 meeting showed.

Members agreed that Japan's economic recovery will remain on track and that consumer inflation will slow only temporarily.

At the June meeting, the BOJ kept policy steady and offered a more upbeat view on overseas growth.

The BOJ kept policy on hold at a subsequent meeting that ended on Tuesday and slightly lowered its economic growth forecast for the current fiscal year due to weak exports.

(Reporting by Stanley White; Editing by Chang-Ran Kim)

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