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Virtuous cycle between wages and prices and the Bank of Japan's monetary policy

· Kazuo Ueda, Governor of the Bank of Japan (Japan)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, labour markets and jobs

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· Kazuo Ueda Wiki · Bank of Japan WikiVirtuous cycle between wages and prices and the Bank of Japan's monetary policy

ContextSpeech at a meeting of the Yomiuri International Economic Society in Tokyo; the Bank of Japan pursues price stability and has just ended negative interest rates.

Why it mattersUeda explains the end of eleven years of massive easing and the hoped-for wage-price cycle.

Problems raised
  1. Japan needed to exit large-scale easing.
  2. The wage-price cycle must be sustained.
  3. The new framework must be explained.
Solutions proposed
  1. End QQE after 11 years.
  2. Support a virtuous wage-price cycle.
  3. Explain the new policy framework.
Read full speech on bis.org ↗

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