Japan's Deputy Chief Cabinet Secretary Murai says Japan is gradually seeing a positive cycle of rising growth and wages falling into place.

That it is important to embed new business practices in Japan so that costs are appropriately passed on throughout the supply chain.

When he was asked if the conditions were met in order to end negative rates he said that specific monetary policy decisions are up to the BoJ. The BoJ should continue to work closely with the government in guiding monetary policy to sustainable meet the price target, he said.