BoJ Minutes: Appropriate To Raise Interest Rates

(RTTNews) - Members of the Bank of Japan's Monetary Policy Board said that the bank's inflation target of 2 percent was in sight, minutes from the central bank's March 18-19 meeting revealed on Thursday.

The Japanese economy is recovering at a moderate pace, the minutes showed, and it's expected to continue to do so - although uncertainties surrounding Japan's economic activity and prices.

Accommodative financial conditions remain appropriate, the minutes said, and the bank will continue its JGB purchases at the current rate.

At the meeting, the BoJ raised its interest rates for the first time in nearly two decades and became the world's last central bank to end negative rates amid signs that inflation is strengthening. The bank raised the overnight interest rate to around 0 to 0.1 percent from minus 0.1 percent.