BOJ argued need to assess impact of yield range shift at Jan. meeting

Bank of Japan board members emphasized the need to assess the impact of the decision to allow 10-year bonds to trade in a wider range when they met last week, pushing back against market pressure to further tweak policy, a summary of opinions showed Thursday.

Multiple members said monetary easing is still needed for Japan as its 2 percent inflation target has not been achieved, with one saying the BOJ’s December decision to widen the yield trading band was aimed “solely at making monetary easing more sustainable.”

At the Jan. 17-18 meeting, the central bank left its ultralow rate policy unchan...