Bank of Japan Governor Masaaki Shirakawa may find resistance among board members to expanding an emergency loan program after economic reports indicated the recovery is strengthening. More members may oppose boosting the fund after two voted against doubling it to 20 trillion yen ($214 billion) last month, a person familiar with the matter said. The bank has yet to fully judge the impact of that step, said a second person informed of the matter. They spoke on condition of anonymity because the talks before the April 30 BOJ meeting were private. The potential split reflects signs of a rebound -- including unemployment at an 11-month low and the biggest gain in retail sales in 13 years -- with a lingering threat of deflation. Some board members may argue that enlarging the bank-loan program would help assure consumer prices rise, said economist Hiroaki Muto. “We can’t completely rule out the chance that the BOJ will take more action this week, as the end o
Japan’s economy grew less than forecast in the first quarter as an export-led recovery failed to stoke consumer spending, putting pressure on the central bank to do more to end deflation as it begins a two-day meeting.