BOJ's Sakurai - CPI is still far from the 2 percent target
|Comments from Bank of Japan (BOJ) board member Sakurai are crossing the wires via Reuters-
- CPI is still far from the 2 percent target, but the mechanism for prices to rise is intact
- Expect overseas economies to continue gradual recovery
- Need to watch how the normalization of US monetary policy affects investment flows
- Japan's economy is shifting to domestic demand driven growth
- Rising labor participation rate and productivity are reasons for slow gains in wages and prices
- Companies will eventually reach a limit in absorbing high labor costs
- Expect companies to start raising prices, which will push inflation to 2 percent
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