Bank of Japan policymakers saw wage hikes as key to sustainably achieve their 2% inflation target, minutes of the June meeting showed, underscoring the bank's resolve to keep interest rates ultra-low despite growing signs of price pressure.
Some in the nine-member board saw price rises broadening and leading to changes in long-held public perceptions that inflation and wages would not rise much in the future, according to the minutes released on Tuesday.
"Many members spoke about the importance of wage increases from the perspective of achieving the BOJ's price target in a sustained and stable fashion." "The BOJ must maintain monetary easing until wage hikes become a trend, and help Japan achieve the bank's price target sustainably and stably," another member said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Japan board reshuffle brings in less dovish memberThe Bank of Japan has reshuffled its board and brought in a new member seen as more keen to end ultra-low interest rates than his dovish predecessor, potentially tilting the board away from Governor Haruhiko Kuroda's aggressive monetary easing policy.
Read more »
USD/JPY marches towards 137.00 as Fed-BOJ policy divergence widens furtherThe USD/JPY pair is marching towards 137.00 as investors are betting over the widening Federal Reserve (Fed)-Bank of Japan (BOJ) policy divergence on
Read more »
Hot inflation sets Bank of Canada on course for another oversized rate hikeCanada\u0027s inflation rate surged to 8.1 per cent in June, the biggest year\u002Dover\u002Dyear increase since January 1983. Here\u0027s what you need to know
Read more »
Israeli forces kill 2 Palestinians in West Bank in shoot outIsraeli forces exchanged fire with Palestinians barricaded in a house in the West Bank on Sunday, killing two, according to Israeli police and the local rescue service.
Read more »
Palestinians: Israeli forces kill 2 in West Bank gun battleTEL AVIV, Israel (AP) — Israeli troops and special forces engaged in an hours-long gun battle with armed Palestinians in the occupied West Bank Sunday, Israeli police said, killing at least two Palestinians, according to the Palestinian rescue service.
Read more »