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MNI BRIEF: Virtuous Cycle To Strengthen Gradually - BOJ Ueda

(MNI) Tokyo

Bank of Japan Governor Kazuo Ueda on Tuesday said a virtuous cycle between wages and prices needed to achieve the bank’s 2% price target is gradually increasing.

“Looking ahead, if the virtuous cycle strengthens and if the BOJ can foresee the 2% price target, the bank will examine whether it is appropriate for the BOJ to continue with easy policy, including the negative interest rate policy,” Ueda told reporters. The bank will then be able to confirm the economy is moving in line with the previous price view, he said.

When asked about the chance of policy change at the March meeting, Ueda said, “We will examine the outlook for policy based on available economic data at that time and examine whether the 2% price target will be achieved.”

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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