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BoJ minutes: Board members spoke of importance of wage increases

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In the minutes of June meeting, BoJ board said price rises have been broadening. But massive support is still needed for the economy while uncertainty surrounding the outlook was “extremely high”.

“Many members spoke about the importance of wage increases from the perspective of achieving the BoJ’s price target in a sustained and stable fashion.”

“Japan must create a resilient economy at which consumption continues to rise even when companies raise prices,” one board member said.

“The BOJ must maintain monetary easing until wage hikes become a trend, and help Japan achieve the bank’s price target sustainably and stably,” another member said.

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