Needs to Watch U.S. Economy: Oct. BOJ Policy Meeting Opinions

Tokyo, Nov. 11 (Jiji Press)--Some Bank of Japan policymakers underscored the necessity of watching developments in the U.S. economy and financial markets, according to a summary of opinions at the central bank's Oct. 30-31 policy meeting released Monday.

On whether to raise interest rates again, a Policy Board member noted that the bank "is entering a phase where it will communicate without using the language of whether it has 'enough time,'" the summary showed.

Echoing the member, BOJ Governor Kazuo Ueda told the press conference after the October meeting that the bank "will not use the wording from now on."

But at the meeting one member said the bank "needs to pay due attention to the future course of overseas economies, particularly the U.S. economy, and developments in financial and capital markets" and to examine the effects of those developments on the bank's outlook for the Japanese economy and prices, according to the summary.

A separate policymaker called on the bank to "take time and exercise caution" because its policy shift toward realizing "'a state with positive interest rates' entails uncertainties."

[Copyright The Jiji Press, Ltd.]