Japan's Finance Minister Satsuki Katayama said on Wednesday that the Japanese economy is experiencing price increases driven by rising import costs, while also standing at a threshold of transition toward a period of sustained inflation fueled by wage growth.
Speaking in the Japanese parliament, Katayama said the government's planned consumption tax reduction and related subsidy payments are aimed at easing the impact of rising living costs on households.
When asked whether the government's tax cut plan would conflict with the Bank of Japan's efforts to combat inflation through interest rate hikes, Katayama responded: "We are exchanging views with the Bank of Japan at multiple levels. I believe there is no divergence in stance between the government and the Bank of Japan."
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Japan Shifting Toward Sustained Wage-Driven Inflation, Says Finance Minister Katayama
Deep News10-21 09:20
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