Japanese workers' base salaries saw their largest increase in 32 years,
Japan wages data: Inflation adjusted real wages -0.3% y/ypotentially paving the way for the central bank to raise interest rates this month, provided other data confirm a strengthening economic cycle.
The labor ministry reported that base salaries rose 2.7% in November compared to the previous year, pushing nominal wages up by 3%, slightly above economists' expectations of 2.7%. A more stable measure of wage trends, which excludes bonuses and overtime and addresses sampling issues, showed wages for full-time workers grew by 2.8%, marking 15 consecutive months at or above 2%.
This consistent wage growth could reignite speculation about a near-term rate hike from the Bank of Japan, potentially at this month's policy meeting. However, recent dovish remarks by Bank of Japan Governor Kazuo Ueda after December's meeting have shifted market expectations toward the possibility of a later policy adjustment.
The next BoJ meeting is on 23 and 24 January.
USD/JPY is around 158.10 as I update.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( JPY remains supported after Japan base salaries saw their largest increase in 32 years )
Also on site :
- Country Artist Cancels Shows Following Tragic Accident
- Slovak PM Fico raises neutrality before NATO summit
- Fire In Wallace