Japan chief gov't economist: If wage growth exceeds last year, we'll probably see cycle

<p>Japan chief government economist Hayashi is out with some comments that highlight the importance of incoming wage data.</p><ul><li>If this year's wage growth exceeds that of last year, we'll likely see positive wage-inflation cycle kick off</li><li>To declare permanent end to deflation, we must ensure Japan won't revert to deflation and that is difficult to judge</li><li>BOJ's current monetary policy framework that sets 2% inflation target is 'very important' for gov't and public</li><li>Importance of government and BOJ joint statement will not change even upon possible BOJ policy shift</li></ul><p>The market sees a high likelihood of the BOJ hiking rates back to 0% at the end of April, with a 25% chance it happens at the March 19 meeting.</p>

This article was written by Adam Button at www.forexlive.com.