Bank of Japan December policy meeting ‘Summary of Opinions’ (full text link)

The full text is here. The BOJ’s ‘Summary’ is an easy read with main points of the Board’s discussion presented in bullet points. The Summary is published many weeks before the minutes.

Check out the bullet points under the ‘Prices’ section of the summary. Long story short is it appears there was discussion amongst members noting that rising energy prices are prompting a small flow-through effect into broader price rises. And, something to watch for in the new year:

  • In the next Outlook for Economic Activity and Prices (Outlook Report) to be released in
    January 2022, it is necessary to examine whether the current assessment that risks to prices
    are skewed to the downside will remain appropriate, considering, for example, the recent
    rises in inflation expectations and raw material costs.

The Outlook Report referred to will be published January 18 2022.

For the November Retail Sales data, comes in at +1.9% y/y

  • expected +1.7%, prior +0.7%

BOJ dates for next year:

Bank of Japan 2022 meeting calendar

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