Changes at the meeting were significant, with the policy framework modified.
Some members said firms' cautious price-setting behaviour might continue for longer than expected.
Many members shared the view that QQE had lowered real interest rates by raising inflation expectations and pushing down nominal interest rates.
One member said it was necessary to implement monetary policy that would raise inflation expectations
Many members said rise in inflation expectations might take time.
One member said change in the yield curve after adoption of negative rates had been largely induced by temporary, somewhat speculative moves.
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