TOKYO (Reuters) – The Bank of Japan ought to conduct a review of its monetary policy framework as the economy suffers prolonged low growth and subdued inflation, one of its board members said in a rate review in January.

The nine-member board also debated the pros and cons of the BOJ’s negative interest rate policy, with one member pointing out that negative rates could lower inflation expectations by making households and companies pessimistic about the outlook, a summary of the debate at the meeting showed on Wednesday.

At the January meeting, the BOJ kept policy steady and nudged up its economic growth forecasts on easing U.S.-China tensions and subsiding global risks.

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