TOKYO's finance minister Shunichi Suzuki said on Tuesday that it is not yet time to discuss a possible review of a joint statement by the Bank of Japan BOJ in 2013 calling for 2 per cent inflation as soon as possible.
Sources previously told Reuters that the government would consider revising the statement after a new BOJ governor is appointed in April, in a move market watchers expect to change the chances of a tweak to incumbent Haruhiko Kuroda's ultra-loose monetary policy.
After a decade of aggressive monetary stimulus, Japan continues to search for a stable and sustainable inflation of 2 per cent that accompanies wage growth. The inflation rate is 41 year high of 4 per cent at present, as a result of the surging cost of living.
Suzuki told reporters that the BOJ and the government are aware of the importance of wage growth.
Suzuki said when asked about the need to review the joint statement, it's too early to comment at the moment when the new BOJ governor is yet to be decided.