Japan's top Economic Council in Monday meeting debated the role the government and Bank of Japan (BoJ) should play in sustainably raising wages and eliminating the risk of return to deflation, Reuters reports, citing presentation material released after the meeting.

Additional takeaways

“Cabinet Office told meeting must ensure recent positive signs on end to deflation are sustainable.”

“Some participants in economic council session with private experts urged BoJ to end quantitative easing when inflation stablizes around 2%.”

“Some participants in economic council session with private experts said BoJ should consider modifying extraordinary stimulus if inflation, wages keep rising.”