Boj Policymakers Stick To Monetary Easing To Achieve Wage Hikes
Documentation outlining the Bank of Japan's latest board meeting reveals that policymakers are stressing the need to continue with massive monetary easing to achieve wage increases amid rising prices.
The BOJ released its "Summary of Opinions" from discussions at a two-day policy meeting earlier this month.
One board member said the range of higher-priced items is widening due to the rise in commodity prices and moves in currency exchange rates.
But the policymaker also said the Bank's price stability target has not been achieved along with a virtuous cycle accompanied by wage increases. Therefore, it remains appropriate to stick with current monetary policy.
One member said achieving a sustainable and stable inflation target of two percent requires wage rises exceeding that level.
Another said the continuation of monetary easing can be considered effective to encourage sustained wage hikes by firms.