Prime Minister Shinzo Abe said the administration's key economic panel will hold a meeting to carefully examine whether the Bank of Japan's drastic monetary easing has begun to improve people's livelihoods.
Abe made the remark Tuesday amid growing concern that the central bank's easing could merely drive up consumer prices without any wage growth. The BOJ pledged last month to achieve a 2 percent inflation target within two years to bring the country out of years of deflation.
"We'll pay attention to whether (the BOJ's monetary easing measures) have led to income growth and created a virtuous circle that would improve the lives of the people," Abe said during a meeting of the Council on Economic and Fiscal Policy.