BOJ member called at June meeting for review of yield cap program

A Bank of Japan policymaker said that the central bank should review its yield cap program “at an early stage,” noting its high costs, a summary of opinions from its June policy meeting showed Monday.

Some BOJ Policy Board members pointed to the possibility that inflation will not slow as much as expected, remaining above the central bank’s 2 percent target, as the price-setting behavior of Japanese companies has been changing.

As part of its monetary easing, the BOJ has been seeking to keep borrowing costs extremely low through purchases of government bonds. Under its yield curve control prog...