Bank of Japan Deputy Governor Masazumi Wakatabe said on Thursday that one time wage hike weren't sufficient for the BOJ to assess the likelihood of achieving its 2% price target in a stable and sustainable manner.

Wakatabe told reporters that wage hikes this spring will be very closely watched and are important, but wage hikes this year alone aren't enough for the BOJ to decide on the inflation outlook.

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Wakatabe told reporters that wage hikes this spring will be very closely watched and are important, but wage hikes this year alone aren't enough for the BOJ to decide on the inflation outlook.

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