BOJ official warns of monetary easing side effects

Policymakers at the Bank of Japan have indicated the importance of continuing its massive monetary easing program, but the latest meeting summary also shows caution about its side effects.

The BOJ on Monday released notes from the two-day meeting that ended on March 19. They reveal broad support for easing.

Members felt the current policy framework should "continue to be the basic guideline for the bank's monetary easing for a few years to come."

But one official called for a detailed assessment of "side effects on the financial system that accumulate over time."

Another member said they need to support corporate reforms that bolster growth and inflation. This comes as the bank's outlook for hitting its 2 percent inflation target remains uncertain.