A meeting of the government's top economic council on Monday focused on whether recent rises in inflation and wage growth suggest Japan is approaching a sustained exit from deflation.
"While there have been some positive signs in recent data, we must ensure they are stable and sustainable so that Japan won't revert to deflation," the Cabinet Office told the meeting.
Bank of Japan Governor Kazuo Ueda spoke about the bank's resolve to patiently maintain ultra-loose monetary policy, according to presentation material released after the meeting. "We're aiming to pull Japan out of deflation and achieve sustained, private demand-driven economic growth" by creating public perceptions that growth and inflation will keep rising, he said.
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