Japan firms offer 5.28% wage hike, biggest in over 30 yrs: survey

Economy

Japanese firms agreed to wage increases averaging 5.28 percent for this year’s negotiations with labor unions, the Japanese Trade Union Confederation said Friday in a preliminary survey, marking the sharpest rise in more than 30 years.

The pay hikes, which have fueled expectations that the country’s economy may finally move out of chronic deflation, will likely pave the way for the Bank of Japan to decide to phase out its ultraloose monetary policy.

The central bank has said it will study the level of wage increases to consider whether it should scale back stimulus measures. The BOJ is schedul...

Kyodo News

Kyodo News