Some Bank of Japan (BOJ) policymakers baulked at former chief Haruhiko Kuroda's idea of deploying a 'bazooka' massive stimulus a decade ago, unconvinced central banks had the power to jolt public perceptions, accounts of the meeting released on Monday showed.
TOKYO, July 31 - Some Bank of Japan policymakers baulked at former chief Haruhiko Kuroda's idea of deploying a "bazooka" massive stimulus a decade ago, unconvinced central banks had the power to jolt public perceptions, accounts of the meeting released on Monday showed.
"My belief is that we need to deploy unprecedented monetary easing steps ... and communicate it in a simple way to overhaul market and public expectations," Kuroda said at the policy meeting on April 3-4, 2013, according to a full excerpt of the deliberations released on Monday. Not all in the board, however, were fully convinced. Former economist Takahide Kiuchi was wary of setting a two-year timeframe for hitting the price target, citing "very high uncertainty" of the chance of success, the minutes showed.
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