A post-coronavirus pandemic world could offer an opportunity for Japanese firms to raise prices and help the central bank achieve its 2% inflation target, Bank of Japan board member Seiji Adachi said on Wednesday.
While restaurants and hotels may need to continue shouldering the cost of steps to prevent the spread of the virus, consumers may become more willing to pay more for value-added services, Adachi said in a speech.
"A post-pandemic world may offer a big chance to achieve our 2% inflation target," if retailers are able to charge more for their services unlike in Japan's past periods of deflation, he added. It also put in place last year a series of steps to channel money via financial institutions to firms hit by the pandemic.
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