At its Monetary Policy Meeting, the Bank of Japan stated that the inflation rate had reached the 2% target. Fourteen years after setting the goal of overcoming deflation, it indicated that wage increases would be key to creating a virtuous economic cycle.
On the 30th, the Bank of Japan stated that the inflation rate had reached the 2% target, and Governor Kazuo Ueda (植田 和男) explained this point at a press conference. The Bank of Japan indicated that its policy management concerning price stability had reached a major turning point.
About 14 years after setting the goal of overcoming deflation, reports said that monetary policy is expected to continue being managed flexibly, including agile rate hikes, going forward.
Wage increases are seen as key to achieving a virtuous economic cycle, and attention is expected to focus on companies' wage increases and the continuation of pay raises, reports said.