Bank of Japan policymaker Junko Nakagawa said on Thursday the central bank must maintain ultra-loose monetary policy for the time being due to uncertainty over prospects for achieving the bank's 2% inflation target in a sustainable fashion.
An increasing number of Japanese companies were raising prices and wages, Nakagawa said, adding that there was a chance inflation could accelerate more than initially expected.
While the job market is tightening, the outlook for wage growth depends largely on corporate earnings, Nakagawa said, stressing the need to stay vigilant to economic risks such as slowing overseas growth. "But we're not at a stage where we can judge that Japan has achieved our price target in a stable, sustainable fashion."
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