URGENT: BOJ chief says more time needed to see virtuous wage-price cycle

Bank of Japan Governor Kazuo Ueda said Tuesday the likelihood of attaining 2 percent inflation stably is "gradually increasing," but more time and data are needed to see if a virtuous cycle of wage and pay hikes is in place.

Speaking at a press conference, Ueda said the BOJ cannot foresee its attainment of the inflation goal "with certainty," after the central bank retained ultralow interest rates at a policy meeting earlier in the day.

© Kyodo News