BoJ's Takata
- Many companies are offering higher-than-2023 wage hikes
- Achievement of 2% inflation target is becoming in sight despite uncertainty of economic outlook
- Japan's economy is in inflection point of changing 'norm' that people think wages, prices are not rising
- Exit measures should include abandoning yield curve control framework, ending negative rates, overshoot commitment
The yen is strengthening on these comments, and rightfully so. The BOJ has highlighted spring wage negotiations as a key input on ending YCC and he's offering an early verdict, along with some concrete steps.
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