FXstreet (Barcelona) - On the Policy Board Meeting at 21-22 Jan, Bank of Japan board members agreed to monitor the effectiveness of a previous rate. But some were skeptical about whether such measures would have a substantial impact on domestic financial conditions

The meeting's minutes also showed some members indicated that the central bank should focus on ways to lower term interest rates of up to one year to improve corporate financing, at a time when the overnight policy rate had been reduced to an ultra-low level.

The BOJ held interest rates steady at 0.1% and unveiled steps to arrest deteriorating corporate finance conditions.