TOKYO :The Bank of Japan debated growing prospects of sustained inflation at their July meeting with one board member saying wages and prices could keep rising at a pace 'not seen in the past,' according to a summary of opinions released on Monday.While the members stressed the need to keep ultra-easy monetar
TOKYO :The Bank of Japan debated growing prospects of sustained inflation at their July meeting with one board member saying wages and prices could keep rising at a pace"not seen in the past," according to a summary of opinions released on Monday.
"The recent wage hikes and pass-through of cost increases by firms have a pent-up aspect, in that these moves had been suppressed for nearly three decades. Therefore, wages and selling prices could continue to rise at a pace that has not been seen in the past," another opinion showed. With high uncertainty over the outlook, as well as both"upside and downside risks" to inflation, it was appropriate to make YCC flexible at this stage, several members said, according to the summary.
"Achievement of 2 per cent inflation in a sustainable and stable manner seems to have clearly come in sight. In order to continue with monetary easing smoothly until an exit, the Bank should allow greater flexibility in its conduct of yield curve control," the member was quoted as saying.
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