Bank of Japan official reaffirms rate hike path
BoJ’s journey to policy normalisation continues as wage growth stays strong
The Bank of Japan will keep raising the policy rate if underlying inflation reaches its 2% target, a senior official has said.
Speaking today (February 5) to parliament, Kazuhiro Masaki, director-general of the BoJ’s monetary affairs department, noted that Japan’s underlying inflation was still under 2%. He said the central bank should therefore maintain loose monetary policy to support economic activity.
Masaki nevertheless said that the BoJ expected underlying inflation to accelerate towards its
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