Bank of Japan presser on current easy-money policy

The Bank of Japan Governor Ueda Kazuo met in Osaka with representatives of four business organizations on Monday.

BOJ Governor said there is still some distance to the price target that will be the precondition for changing the central bank's current easy-money policy. He suggested that continued corporate wage increases will be important for achieving the target.

Last week, the central bank decided to maintain the easy money policy. But business leaders pointed out that the policy, while supporting the economy, led to the depreciation of the yen and to price increases that are pushing down the profits of small business.

At a news conference after the meeting, Ueda spoke about the immediate trend of the prices, and the possibility of changing the current ultra-low interest policy.