Japan no longer in deflation, wage hike trend strong, says finance minister

By Thomson Reuters Mar 14, 2024 | 7:07 PM

TOKYO (Reuters) – Japan’s economy is no longer in deflation, and a strong trend of wage hikes is taking place, Finance Minister Shunichi Suzuki said on Friday.

Policymakers, including Prime Minister Fumio Kishida and Suzuki, have repeatedly said in recent days that the country was not yet in a position to be able to declare a solid exit from deflation.

The government will mobilise all available policy steps to continue the positive momentum on wages, Suzuki said, declining to comment on Bank of Japan policy steps at its meeting taking place next week.

(Reporting by Tetsushi Kajimoto, Writing by Rocky Swift; Editing by Chang-Ran Kim)