At a press conference after the monetary policy meeting, Bank of Japan Governor Ueda said regarding the 2% price stability target, ``While there is still a high degree of uncertainty about the future, the probability that the outlook will be realized continues to increase little by little.'' He emphasized the aim of creating a virtuous cycle in wages and prices by persistently continuing monetary easing.
In this regard, Governor Ueda commented on recent trends in wages and prices, saying, ``In the lead-up to the spring labor-management negotiations, the labor union has indicated a policy of demanding higher wages than last year. "There are some positive comments about wage increases. The ripple effect from wages to sales prices is also gradually spreading."
Regarding the price stability target of 2%, he stated, ``Although there is still a high degree of uncertainty about the future, the probability that the outlook will be realized continues to increase little by little.'' He said that persistent monetary easing will improve wages and prices. We emphasized the idea of aiming for circulation.
The Bank of Japan has a policy of changing policy if it is expected to achieve its 2% price stability target along with wage increases, and the market is focused on the timing.
The next monetary policy meeting will be held in March, and Governor Ueda said, ``A certain amount of economic data and data on prices will be released.Furthermore, since the meeting will last about two months, we will also receive information related to various hearings.'' "It is possible to do so," he said, adding that wage increases at small and medium-sized enterprises can be inferred from trends in the economy and trends at large companies.
However, regarding the possibility of policy changes, he said, ``All I can say is that we will make appropriate decisions based on newly received information, just as we do at every decision-making meeting.'' I showed my attitude.