BOJ members saw need to tweak yield cap amid inflation risks: report

They keep talking and talking while price already increase from last year. While people get their salary with weaker yen.

The action has stopped the yen weakening further. As expected.

need to tweak? 2 percent inflation?

What are these BOJ on?

JPY is 30% down YOY. Household goods at supermarkets are 10~50% up. What is it that only 2% up???

Yeah BOJ ossantachi are too good to actually go to supermarkets and see what these plebii life is about.

'what are these BOJ on?' Kind of sums up your understanding of the article.

Boj has been out of touch with reality for a long time. Real inflation seems to be a lot higher than the reported numbers.

They keep talking and talking while price already increase from last year. 

I have no idea what your point is. They did take action with the policy tweak while acknowledging that sustained inflation is becoming more of a reality.

The BOJ have no control over inflation. Neither does the FED for that matter. Its all about fuel prices, and guess who dictates those.

For the vast majority there have been zero pay increases let alone sharp ones. The BOJ are living in a dream world if they think the average Japanese family can keep up with the current rate of inflation.

Sorry, but so many ignorant comments here coming from obviously new people to Japan.

Canola oil up due to Ukraine. Nothing else at all.

I had instant noodles and fresh veggies for dinner tonight…I’m feeling it!

A steady ¥160 = $1.00 would be fabulous for me so I can live moe rich than a Samurai Dymyo

The central bank expects core consumer prices, a key gauge of inflation, will overshoot 2 percent in fiscal 2023, though they are forecast to slow in the next two years.

what is this forecast based on?

@CuteUsagi...Sadly for you, I'd think you'd see intervention before 150, let alone 160.

Last month I got ¥147.

And we’re living here in Allentown

Sadly for you, I'd think you'd see intervention before 150, let alone 160.

Yes, we know the BOJ is a currency manipulator. Of course, you can only do so much the strengthen the currency via manipulation, as it costs too much.

The BOJ is leading the parade as Japan continues to march into "poverty." It is really astounding how low the standard of living is in Japan for most people compared to North America or Australia. At the bare minimum, workers in Japan should all get a solid block of 4 weeks off every year so that if they can't cool their apartments at least they can put a tent up in the mountains to leave the stress briefly behind.

the BOJ is leading the parade as Japan continues to march into "poverty." 

Not true at all. The corporations, which are raking in record-high profits yet have long refused to give pay raises in line with their earnings growth, are "leading the parade" to poverty.

workers in Japan should all get a solid block of 4 weeks off every year

Sure, but that's a decision for employers, not the BOJ. Why are people in Japan so reluctant or afraid to criticize corporations? The govt and boj set the rules and conditions. It's like blaming sports events organizers and umpires for a team's loss and not the team.

There is no way the Bank of Japan ever envisioned the 2% inflation goal as a result of cost-push conditions. This situation is untenable and will result in significant hardships for households that are seeing zero (or even negative) wage increases.

Not in a million years, anywhere on earth, would the average worker want a central bank to raise interest rate. Except on Japan Today. LOL.

Companies are making record profits and the solution is?

I see the large company cars during rush hour so obviously there is money being made.

Local high end import car companies have lots of models!

The government has the power to increase corporation tax and to redistribute that gain by lowering income tax

Will it?

No

Why are people in Japan so reluctant or afraid to criticize corporations?

The LDP’s 3 lost decades is actually all the fault of the people that form corporations. I struggle to argue that.

The govt and boj set the rules and conditions.

Exactly. Those rules matter.

It's like blaming sports events organizers and umpires for a team's loss and not the team.

Rather, it is like having rules that ensure a dull boring game, that no one wants to watch or take part in.

Corporations are people. Blaming corporations is blaming the people. You yourself own pieces of those corporations. Is it partially your fault?

(I would argue yea but only to the extent that you back this failed central planning approach)

The government has the power to increase corporation tax and to redistribute that gain by lowering income tax

So people will earn less income because their employers earn less after tax, but will pay a lower rate of income on their smaller salaries - hopefully I got that wrong.

How about this - transition to 10% tax rate on individual and business income. Even stevens. And as people have more to save for themselves and choose how to spend wisely, reduce government spending that we all know is hugely wasteful.

Each of us individually directs more of our own money - far more democratic than the current system we have now.

@Zoroto: Hence YCC adjustment. And the 'cost' of intervention is never as vast as it seems. What do you think the BOJ did last time, just sat on it and took the loss? You don't think they spent the next few months recouping the dollar reserves quietly and slowly at and actually probably taking a profit?

Corporations are people.

No they aren't. They're organizations.

Rather, it is like having rules that ensure a dull boring game,

Earning the highest profits in your history and becoming the darling of global investors thanks largely to the lowest borrowing costs around and lower inflation than your peers is "boring" for them? Um, if you say so.

No they aren't. They're organizations.

Show me a corporation or organization that is not made up of people?

You might come up with some other group of animals like ants or whales, but they are all just collections of individuals working together.

the darling of global investors

Lol :)