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MNI BRIEF: BOJ's Kuroda Eyes 3% Wage Hikes To Hit 2% Target

(MNI) Tokyo
(MNI) TOKYO
Central Bank NewsPolicy NewsAPACJapanBank of JapanBriefStoryRegionBank of Japan (BOJ) Market News

Bank of Japan Governor Haruhiko Kuroda said on Friday that it is necessary for wages to continuously rise about 3% to achieve the bank's 2% price target in a stable and sustainable manner.

“Based on the assumption that productivity is around 1%. In order to achieve a 2% price target, wage hikes about 3% need to continue. But it may be changeable, depending on a tightening of the labor market and productivity,” Kuroda told lawmakers.

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Bank of Japan Governor Haruhiko Kuroda said on Friday that it is necessary for wages to continuously rise about 3% to achieve the bank's 2% price target in a stable and sustainable manner.

“Based on the assumption that productivity is around 1%. In order to achieve a 2% price target, wage hikes about 3% need to continue. But it may be changeable, depending on a tightening of the labor market and productivity,” Kuroda told lawmakers.

Keep reading...Show less