FILE PHOTO: People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou
By Leika Kihara
TOKYO (Reuters) – The Bank of Japan maintained its upbeat economic assessment for most regions on Thursday, saying wage hikes were broadening, underscoring its conviction that the country was on a path to sustainably meet its inflation target of 2%.
In a quarterly report analysing regional economies, the central bank left unchanged its assessment for seven of Japan’s nine regions, which were “picking up” or “picking up moderately”, it added.
“Many regions said wage hikes were broadening, even among small and mid-sized firms due to intensifying job shortages and rising inflation,” the bank said in a summary of a meeting of its regional branch managers.
The BOJ’s two-day policy meeting that ends on April 28 will scrutinise the report and the summary, among other factors.