Fears over potential miscommunication added to splits in the Bank of Japan's (BoJ) policy board in December, according to a record of opinions expressed at the meeting, published today (January 8).

The board is in a difficult position. With monetary easing already at record levels some members were concerned any further measures could be rash – either in reality or appearance. But others cautioned that with inflation stuck close to zero it was crucial not to give the impression the central bank