BOJ policymaker hints at policy adjustment in early 2022.

Bank of Japan Could See Inflation Data by Q1⁢ 2022

By Leika Kihara

KUSHIRO, Japan (Reuters) – Bank of Japan board member Naoki Tamura said the central bank could have enough data in the first ‌quarter of next year to judge whether inflation can sustainably hit its 2% target, a prerequisite for phasing out ultra-loose monetary policy.

While inflation already exceeds its 2% target, the BOJ has pledged to maintain‍ ultra-low interest rates⁣ until there is more evidence that ⁣level can be met in a sustained fashion.

Tamura said a sustained, stable achievement of ⁤the bank’s‍ 2% ⁤inflation target was now “clearly in sight,” as companies shed their aversion to price and ⁢wage hikes.

“It’s appropriate⁢ at this stage to sustain monetary easing, and earnestly scrutinise wage and ‍price developments,” Tamura said a speech to business leaders in Kushiro, northern Japan.

“But I’m hoping that around January through March next year,⁤ we will have​ further clarity” on whether Japan can sustainably meet the bank’s inflation target through wage and price⁤ data available by then, he said.

(Reporting by Leika Kihara; Editing by Muralikumar Anantharaman and Sam Holmes)

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