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Several BOJ members said external demand, manufacturing important for recovery -Oct 3-4 minutes
November 6, 2013 / 12:05 AM / 4 years ago

Several BOJ members said external demand, manufacturing important for recovery -Oct 3-4 minutes

TOKYO, Nov 6 (Reuters) - Several members of the Bank of Japan’s policy board said firm external demand and strong manufacturing are necessary for a sustained recovery but warned that these two areas were so far somewhat lacking in strength, minutes of the central bank’s Oct. 3-4 policy meeting showed on Wednesday.

One member also said a slow recovery in exports was a sign of declining competitiveness and this could hamper Japan’s economic growth.

At the meeting, the BOJ upgraded its assessment of capital expenditure and left its monetary stimulus unchanged.

At a subsequent meeting on Oct. 31, three members of the board dissented against the bank’s rosy outlook for achieving its 2 percent inflation target, marking the biggest rift since BOJ Governor Haruhiko Kuroda’s tenure began in April.

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