TOKYO — Bank of Japan Deputy Gov. Masayoshi Amamiya on Thursday renewed his promise to continue easy monetary policy, saying Japan’s economic recovery isn’t firm enough yet.
“It is necessary for the bank to continue with monetary easing steadfastly,” because uncertainties remain high and it will likely take some time for the bank to achieve 2% inflation in a stable and sustainable manner, Amamiya said in a speech.
Wage growth is expected to exceed the pace of consumer inflation in the next fiscal year ending March 2024, Amamiya said, adding that the bank’s monetary easing would help improve corporate profits, create tighter labor conditions and eventually encourage companies to raise wages.
