BOJ will consider policy shift if wageprice cycle intensify
Ueda says no decision yet on timing of policy shift
Firms becoming more open to raising wages, prices Ueda

TOKYO, Dec 25 Reuters Bank of Japan Governor Kazuo Ueda said on Monday the likelihood of achieving the central bank39;s inflation target was gradually rising and it would consider changing policy if prospects of sustainably achieving the 2 target increase sufficiently.

While companies are becoming more open to raising wages and prices, the key is whether wages will continue rising next year and lead to further increases in service prices, Ueda said.

in a sustainable and stable manner rises sufficiently, we will likely considering changing policy, Ueda said, offering the clearest sign to date of the chance of ending ultraeasy monetary policy.

Ueda said the BOJ had not decided on a specific timing to change the loosest monetary stance of any major central bank, due to uncertainties over economic and market developments.

We will carefully examine economic developments as well as firms39; wage and pricesetting behaviour, and thereby decide on future monetary policy in an appropriate manner, he said.

The language differed slightly from Ueda39;s usual phrase calling for the need to patiently maintain ultraloose policy for the time being.

The Japanese government bond market shrugged off Ueda39;s remarks, with yields falling as the BOJ conducted a regular bond buying operation across the curve.

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