Some details are emerging from the spring wage negotiations
This is a preliminary result of the spring wage negotiations and it shows that the average increase in monthly base wages will be 0.62% for the fiscal year of 2019. That is higher than last year’s 0.54% rise at least.
Looking into the details, it is rather disappointing because of the fact that the rise in wages for the fiscal year of 2018 was initially thought to be 0.77%. The final data shows that wages actually didn’t increase that much and that’s a bit of a blow to the BOJ surely.
Not exactly stellar stuff from the report but it isn’t all bad either. In short, there’s nothing for the BOJ to shout about as it seeks to reach its 2% inflation target but it isn’t anything that would dent it further either.