Progress on wages is a product of 'shunto' or 'spring labour offensive'
Roughly 70pc say in a BOJ survey they experienced drawbacks from monetary easing measures including a weak yen which pushed up import costsTOKYO – Japan's large manufacturers saw exchange rate stability as the biggest factor they wanted out of the central bank's monetary policy, a Bank of Japan survey showed on Monday.
The survey, conducted on roughly 2,500 firms nationwide, highlights the importance Japanese firms place on yen moves in assessing the impact of monetary policy. About 90pc of firms said they were more willing to hike wages largely to address labour shortages, while over 80pc said they found it easier than before to hike prices, the survey showed.
But the decision failed to reverse the yen's declines that have hurt domestic consumption by pushing up imported goods prices, as markets focused on the still-large interest rate divergence between Japan and the United States. Monday's survey, which was part of the review, polled companies on how they saw their business activities affected by the central bank's monetary easing measures since the mid-1990s.
The rising wages reflect Japan's chronic labour shortages, as well as efforts to help employees tackle rising consumer prices.
Yen Exchange Rate Pay Hike Bank Of Japan Shunto Spring Labour Offensive Japanese Interest Rates Interest Rates Inflation Wage Growth Wage Talks Wage Hike BOJ
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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