Some Bank of Japan board members said the central bank needed to avoid disturbing the financial markets when purchasing exchange-traded funds and Japan real estate investment trusts under a new asset purchase fund, minutes from the Nov. 4-5 meeting showed on Monday.
"Since it would be the first time for the BOJ to actively purchase these risk assets, ... the bank should take account of market participants' opinions and review the guidelines for the operation of its asset purchases in a flexible manner, as necessary," the minutes quoted some members as saying.
At the Nov. 4-5 meeting, the BOJ kept interest rates at zero and held off on easing monetary policy, after the Federal Reserve's bond buying plan failed to trigger sharp enough yen gains to warrant an immediate policy response.
The central bank also fleshed out its plans to buy exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) under its new 5 trillion yen ($60 billion) asset-buying scheme.
The BOJ had pushed forward the date of the policy meeting to speed up the rollout of the asset buying fund.