Forex News: BOJ Policy Minutes from April and May Meeting

• MEMBERS AGREED GLOBAL INFLATION RISKS WERE HEIGHTENING
• MEMBERS SAID BOJ MUST WATCH BOTH ECONOMY AND PRICES
• A FEW BOJ MEMBERS SAID NEED TO WATCH INFLATION EXPECTATIONS
• A FEW MEMBERS SAID BOJ SHOULD WATCH COMPANIES' PRICE-SETTING
• BOJ MEMBERS AGREED NEED TO WATCH UPSIDE AND DOWNSIDE RISKS
• ONE MEMBER SAID RESPONSE TO COMMODITY RISE GETTING DIFFICULT
• SOME MEMBERS SAID MUST WATCH AFFECT OF COMMODITIES ON ECONOMY
• ONE MEMBER SAID U.S.-TYPE CORE CPI MAY NOT SHOW PRICE TREND
• ONE BOJ MEMBER SAID CORE, TRIMMED CPI ARE EFFECTIVE TOOLS
• ONE BOJ MEMBER SAID MUST WATCH PRODUCER PRICES
• MANY BOJ MEMBERS IN APRIL SAID LOW RATES COULD CAUSE SWINGS

The yen has little reaction to the minutes.  Last at 107.90.