Bank of Japan Governor Kazuo Ueda said on Friday the country's corporate price-setting behaviour was showing changes that could work to push up inflation more than expected.
However, he stressed anew the central bank's resolve to keep monetary policy ultra-loose, to ensure companies raise wages enough to more than offset the burden on households from rising inflation.
By supporting the economy, the central bank aims to generate a positive cycle in which inflation-adjusted wages will start increasing, he added. The BOJ currently expects core consumer inflation to slow below the central bank's 2% target in the latter half of the current fiscal year, Ueda said. This year's outcome of annual wage negotiations between companies and unions also led to strong rises in pay, Ueda said.
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