BoJ board member Seiji Adachi said in a speech, “the post-COVID-19 phase may be an opportunity for the services industry to raise the prices of their services while improving their quality.”
“As Japan’s past deflationary phase is characterized by the fact that there were almost no price rises in the domestic demand-oriented services industry, the post-COVID-19 era may afford a prime opportunity to achieve the 2 percent price stability target,” he added.
