Posted 12/2/2023, 10:39:00 PM
Japanese Official: Wage Growth Lagging Behind Inflation, More Needed to Hit BOJ 2% Target
- Japanese official Rise in inflation driven by cost-push factors, not wage growth
- Achieving 2% inflation target requires sustained wage increases backing price rises
- Spring wage deals marked largest hike in 30 years, but more needed to hit target
- BOJ repeatedly stresses keeping ultra-loose policy until 2% inflation sustainably achieved
- Market expectations growing that central bank will exit policy in 2023