BOJ Board Member Nakagawa Expresses Confidence in the Attainment of the Price Objective

Companies that are experiencing labor shortages that are intensifying appear to have resumed the practice of annual wage increases, and Nakagawa predicts that this year's wage increases will surpass those of the previous year.

"We can say that prospects for the economy to achieve a positive cycle of (rising) inflation and wages are in sight," Nakagawa stated during a presentation.

"Chips are evident in the manner in which businesses establish wages." "Japan is making steady progress toward achieving our 2% inflation target in a sustainable and stable manner," she stated.

Prevalent market expectations that the BOJ will eliminate negative interest rates this month or in April are likely to be reinforced by the remarks.