Bank of Japan April 30 - May 1 meeting minutes, full textHeadlines via Reuters:Many members said must carefully scrutinise each nation’s trade policy and its development given heightening downside risks to economy, pricesA few members said BOJ must maintain current very low real interest rates to underpin economyOne member said BOJ had no choice but to wait-and-see until US trade developments stabilisedOne member said must scrutinise whether recent tariff developments could prod Japan firms to embark on excessive cost-cuts, curb wage and investmentMembers agreed it was appropriate for BoJ to continue raising interest rates in accordance with improvements in economy, prices if BOJ’s forecasts materialiseA few members said it was appropriate to continue raising interest rates as BOJ’s projections point to achievement of its 2% inflation targetOne member said likelihood of Japan’s underlying prices falling back again is smallOne member said BOJ may pause rate hike temporarily, but must stand ready to hike rates again depending on U.S. policy shiftsSome members said if yen rises as a trend, that could have negative impact on Japan’s economyMembers agreed boost to inflation from past rises in import costs, recent rises in rice and other food prices likely to dissipateSome members said timing of underlying inflation converging to levels consistent with BOJ’s price target likely has been pushed back by around 1 year more to come ---Still to come from the BOJ - Governor Ueda speakingEarlier:Japan May 2025 CPI remains well above the Bank of Japan target rate, stillBank of Japan Governor Ueda with Japan PM Ishiba This article was written by Eamonn Sheridan at www.forexlive.com.