Bank of Japan policymakers were divided over a proposal by then-Gov. Haruhiko Kuroda to take an additional monetary easing step at a meeting in October 2014, according to a transcript of the meeting released on Wednesday.
At the time, the central bank maintained its view that the country's economy "has continued to recover moderately as a trend," although personal consumption showed signs of weakness after the consumption tax was raised from 5% to 8% in April.
But core inflation fell close to 1% in August, raising concerns that the country may not achieve the BOJ's target of 2% inflation. At a policy meeting on Oct. 7, then-BOJ Deputy Gov. Hiroshi Nakaso expressed a sense of crisis, saying that the central bank's quantitative and qualitative easing policy was at a crucial point.
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