By Leika Kihara
TOKYO (Reuters) – Bank of Japan board member Seiji Adachi said on Wednesday the country’s economy had yet to reach a stage where the central bank could debate an exit from ultra-easy monetary policy.
While inflation could overshoot its projections, the central bank must wait for clear signs that prices and wages would rise in tandem, and keep inflation sustainably at its 2% target, Adachi said in a speech.
“While there may be early signs such positive wage-inflation cycle is emerging, conditions aren’t sufficient yet” to debate an exit from ultra-loose monetary policy, he said.
“For now, it’s appropriate to patiently continue with our monetary easing,” Adachi said.
(Reporting by Leika Kihara; Editing by Chang-Ran Kim and Jamie Freed)
