Japan Suzuki: No longer in deflation, wage hike trend strong

Japanese Finance Minister Shunichi Suzuki said on Friday that Japan's economy is no longer in deflation, and a strong trend of wage hikes is taking place.

Key quotes

“Strong trend of wage hikes happening now.”

“This year's wage hikes to outpace last year’s.”

“Government to mobilize all policy steps available to continue the wave of wage hikes.”

“Specific monetary policy up to BOJ to decide.”

“Won't comment on any BOJ policy steps to be taken next week

Japan is no longer in deflation.”

Market reaction

At the time of writing, USD/JPY is trading 0.12% higher on the day at 148.46.