BoJ’s Nakaso: inflation on upward path this year

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Hiroshi Nakaso: inflation outlook is improving

The Bank of Japan (BoJ) expects to see rising inflation in the coming year, bringing to an end a long period of stagnant and deflating prices, deputy governor Hiroshi Nakaso said today (February 9). At a meeting of business leaders in Kochi, Nakaso said a confluence of factors was likely to push up prices faster. First, Japan's output gap has improved, reflected in rising labour market pressure and the prospect of rising wages. Second, the drag from low oil prices is expected to fade and high