(RTTNews) - The board members of the Bank of Japan unanimously agreed that further steps likely would be required to hold deflationary pressures at bay, minutes for the BoJ's monetary policy meeting on December 1 revealed on Friday. The members also agreed that business sentiment was continuing to worsen, due mainly to deflation and a strengthening yen. They decided that lowering long-term rates may help the economy.

The central bank also released the minutes from its December 17-18 policy meeting, in which the board members said that a clear stance on inflation may help to stabilize interest rates.

At both meetings, the central bank kept interest rates on hold at the current record low of 0.10 percent.