Although the inflation rate is said to have reached 2%, the road to restoring strong economic growth remains long. The view is that the Bank of Japan will need to guide the economy so that people can feel the benefits of price stability and rising wages in the future.
Following the collapse of the bubble economy, Japan has sought to overcome deflation. Achieving its price target is regarded as a historically significant milestone.
However, it has been pointed out that the restoration of economic growth remains some distance away, and the view has been expressed that the Bank of Japan should help people feel the benefits of rising wages and price stability.
Officials, including the Governor of the Bank of Japan, are said to consider it important to maintain a phase in which prices remain at 2% through future policy management.