In a Sunday debate on NHK, Minister of Economy, Trade and Industry Saito expressed his intention to take necessary measures to ensure that the trend of wage increases, including for small and medium-sized enterprises, will lead to a virtuous economic cycle in response to the rising stock prices and this year's spring labor union. I did.
Regarding the Japanese economy, this month the Nikkei Stock Average exceeded 40,000 yen for the first time, and this year's spring labor union agreement has seen a series of agreements with large companies leading to high wage increases.
Commenting on the current situation, Minister of Economy, Trade and Industry Saito said, ``Signs of change in the Japanese economy are clearly visible.We are finally in a situation where investment is increasing, prices are rising, and wages are increasing.This virtuous cycle should be supported by policy. We need to think about how to support the economy,'' he said, and expressed his intention to take the necessary policies to ensure that the flow of wage increases, including for small and medium-sized enterprises, will lead to a virtuous cycle for the economy.
On the other hand, regarding the Bank of Japan's monetary policy meeting to be held from the 18th to discuss whether to lift its negative interest rate policy, he said, ``There will be various impacts, so it will be difficult to make a decision to ensure that the economic situation does not deteriorate.'' Bank of Japan Deputy Governor Uchida said in a speech, ``Even if negative interest rates are lifted, I think we will maintain an accommodative financial environment,'' so I hope he makes an appropriate decision.'' said.
Furthermore, regarding the expiration of subsidies to keep gasoline prices down at the end of next month, he said, ``Nothing has been decided in the future. However, we need an exit. We will continue to monitor the situation carefully.''