Minutes from the Bank of Japan show that several policymakers wanted it to make a determined effort to explain its decision of maintaining an easy-money policy.

The yen has rapidly weakened against the US dollar as the US Federal Reserve has hiked rates to combat inflation, while the BOJ sticks with its low-rate policy.

The minutes are from the BOJ's policy meeting in September.

Officials took note of an increased number of companies passing on their rising costs to consumers. One participant urged the BOJ to monitor the yen's movements, as a weaker currency could further aggravate inflationary pressure.
Many of the officials stressed the need to maintain the bank's easing policy. They pointed out that Japan has yet to see stable price rises accompanied by wage hikes.

The yen's depreciation has prompted the Japanese government to intervene in the currency market.

But at the meeting, a few participants said foreign-exchange rates should not be a direct target of monetary policy.

One member mentioned a possible exit strategy from the BOJ's currently loose policy. The official said the bank will need to properly communicate with the market when that time comes.