The Bank of Japan (BoJ) released its minutes from January meeting. Three BoJ's board members expressed doubts the central bank will achieve its 2% inflation goal in the targeted period.
The BoJ cut its consumer inflation forecast for fiscal 2015 starting in April to 1.0% from its previous estimate of 1.7%. For fiscal 2016, the central bank upgraded its inflation forecast to 2.2% from 2.1%.
The BoJ's board members remained satisfied with the pace of the Japan's economic recovery.