Federal Reserve policy makers meet for the first time under Chair Janet Yellen, who has pledged to continue gradual reductions in monthly bond buying as long as the U.S. economy improves.
Japanese officials indicated they are prepared to support the nation’s slowing economic expansion after a report yesterday showed gross domestic product barely grew last quarter.
Takahide Kiuchi, the Bank of Japan board member most openly critical of its monetary policy, said the central bank may come under pressure to expand unprecedented easing, doing more harm than good to the economy.
Japan’s Finance Ministry said its record foreign-exchange intervention last year was effective and central bank Deputy Governor Hirohide Yamaguchi indicated officials won’t hold back on easing.
"The economy is more of a decisive factor than the BOJ in getting us to a state of stable inflation in a desirable manner."
- Takahide Kiuchi on Jul 21, 2014