At that point, we would expect wages to be rising at the same pace as the target inflation rate plus the trend rate of productivity growth.
*  *  *  Introduction The Bank of Japan submitted its Semiannual Report on Currency and Monetary Control for the first half of fiscal 2007 to the Diet on December 11, 2007. I am pleased to have this opportunity to present an overall review of the Bank's conduct of monetary policy. I.