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BOJ minutes: Economy, prices on track with forecasts

Bank of Japan board members agreed that the economy and prices are moving in line with their forecast, minutes of the central bank's February 17-18 meeting showed on Friday.

Members also agreed that the sales tax hike next month in Japan will not derail the economy and that risks posed by overseas economies have receded.

(Read more: BOJ stands pat on policy, extends special loans)

Koichi Kamoshida - Getty Images

The BOJ kept monetary policy steady at that meeting and extended special loan programs to help buoy bank lending, brushing off data showing weak growth in the fourth quarter of last year.

At a subsequent meeting on March 10-11, the BOJ kept policy on hold, lowered its assessment of exports and raised its view of capital expenditure.

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