Japan no longer in deflation, says country's finance minister

The government will mobilise all available policy steps to continue the positive momentum on wages, Suzuki said.

Japan's economy is no longer in deflation, and a strong trend of wage hikes is taking place, Finance Minister Shunichi Suzuki said on Friday.

Japan’s economy slid back into recession in July-September as uncertainty over the overseas outlook hurt business investment. (AFP )

Policymakers, including Prime Minister Fumio Kishida and Suzuki, have repeatedly said in recent days that the country was not yet in a position to be able to declare a solid exit from deflation.

The government will mobilise all available policy steps to continue the positive momentum on wages, Suzuki said, declining to comment on Bank of Japan policy steps at its meeting taking place next week.