Japan yet to achieve wage-driven rise in inflation

— Bloomberg

TOKYO: Japan has yet to achieve price gains driven by higher wages with the recent rise in inflation driven by cost-push factors, Bank of Japan (BoJ) board member Asahi Noguchi says, suggesting it was premature to retreat from ultra-loose monetary policy.

“It’s true the impact of elevated global inflation is reaching Japan’s economy with consumer inflation exceeding the BoJ’s 2% target since the spring of 2022,” Noguchi said, according to the text of his speech posted on the BoJ’s website.