The Governor of the Bank of Japan stated that a significant increase in salaries is needed to achieve the inflation target

Bank of Japan Governor Kazuo Ueda stated that salary levels need to be significantly increased in order for Japan to sustainably and stably achieve its 2% inflation target. He pointed out in the Diet that the Bank of Japan cannot exert significant influence on real wage growth, which mainly depends on medium - and long-term labor productivity, and emphasized that monetary policy will be implemented to support stable achievement of wage growth and inflation targets.