Stable, sustainable achievement of 2% inflation not yet in sight.

Japan's economy is at a critical stage on whether it can achieve positive wage-inflation cycle.

Must continue to be vigilant to chance past sharp US rate hikes could affect economy, financial system with a lag.

Chinese economy's slow pace of pick-up is also worrying.

It is true inflation is exceeding 2% for prolonged period, but that alone cannot lead us to conclude japan close to stably, sustainably achieving our target.

Key to whether Japan is close to achieving our target is whether wage growth leads to moderate rise in inflation.

Japan firms are changing prices more frequently than in past, which is important sign suggesting wages and inflation could move in tandem.