Mitsubishi UFJ Financial Group (MUFG) President Hiroki Kamezawa stated in an interview with Japanese media outlet Asahi Shimbun:
The BoJ is gradually achieving its price target and wage hike "This is only a matter of time." The negative interest rate policy could be eliminated as early as 2024 due to positive developments in wages and prices. This policy has put pressure on the businesses of financial institutions because it reduces the profit margins they can earn on lending.
MUFG is Japan's largest financial group and the world's second largest bank holding company.