Japan no longer in deflation, wage hike trend strong, says finance minister
FILE PHOTO: Japanese Finance Minister Shunichi Suzuki attends a news conference during the annual meeting of the International Monetary Fund and the World Bank in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File Photo
TOKYO (Reuters) – Japan’s economy is no longer in deflation, and a strong trend of wage hikes is taking place, Finance Minister Shunichi Suzuki said on Friday.
Policymakers, including Prime Minister Fumio Kishida and Suzuki, have repeatedly said in recent days that the country was not yet in a position to be able to declare a solid exit from deflation.
The government will mobilise all available policy steps to continue the positive momentum on wages, Suzuki said, declining to comment on Bank of Japan policy steps at its meeting taking place next week.
