In Japan, a pivotal shift in wage policy and economic outlook is underway, as Prime Minister Kishida's adviser, Yata, indicated that wage hikes this year are likely to exceed last year's, emphasizing the necessity of continuing wage increases, around 4%, to combat deflation. The government has pledged not to interfere with the Bank of Japan's (BOJ) policy-making, even as these wage increases could prompt an end to negative interest rates. Major Japanese firms, including Nippon Steel which agreed to an 11.8% increase in base salary, have reported substantial wage hikes, marking a departure from the deflationary period known as the 'lost decades.' This trend is supported by the largest industrial union, UA Zensen, reporting the biggest average pay raise offers by 231 firms since 2013. The BOJ is considering ending its negative interest rate policy, with discussions to take place next week, as union wage negotiations lead to a surge in pay. Finance Minister Suzuki declared the end of deflation in Japan and committed to utilizing all policy measures to sustain wage increases. The yen strengthened against the US dollar, with the dollar last down 0.1% at 147.58, and the yield on 10-yr JGB was up 2.5 bps at 0.780%, later reaching 0.784%. Japan's leading union group announced a 5.28% wage hike, the largest in over 30 years, further influencing the BOJ's potential decision to lift negative interest rates.
As they say in Japan, that's a spicy meatball! - Workers at major Japanese firms had asked for pay hikes of 5.85%, above 5% for the first time in 30yrs. The Rengo union group which represents about 7m workers had aimed for increases of 3% or more https://t.co/5IRrfPqH8Q
JAPAN'S 10-YR JGB YIELD LAST AT 0.784%, RENGO TRADE UNION WAGE DEAL RAISES POLICY CHANGE ODDS
🔴 JAPAN'S GOVT AND THE BOJ TO KEEP JOINT STATEMENT INCLUDING MAINTAINING 2% PRICE TARGET - JIJI.
JAPAN GOVT, BOJ TO KEEP JOINT STATEMENT INCLUDING MAINTAINING 2% PRICE TARGET - JIJI
Japan’s Rengo: Part-Timers Wage Hikes Reached 6% For 2024
HEAD OF JAPAN'S BIGGEST TRADE UNION CONFEDERATION RENGO SAYS RISING INEQUALITY, INFLATION AND LABOUR CRUNCH AMONG FACTORS BEHIND BIG WAGE HIKES
JAPAN PM KISHIDA: WAGE INCREASES FLOWING STRONGLY
🔴 JAPAN'S PM KISHIDA: I'M SEEING POSITIVE TRENDS IN PERSONAL CONSUMPTION.
Japan's largest labor union group secures a 5.28% pay rise in the spring wage talks, and immediately afterwards Jiji reports the BOJ is in "final preparations" to end negative interest rates. Excitement coming this Tuesday! https://t.co/k2R99ihu2G
Japan union group announces hefty wage Hikes, presaging shift at central bank https://t.co/C9teBxAOfl https://t.co/aE0E0IVYOx
Japan Union Group Announces Hefty Wage Hikes, Presaging Shift At Central Bank - Devdiscourse https://t.co/hoPOXp57ST
JAPAN PM KISHIDA: CONSUMER SENTIMENT IMPROVING AMID MODERATE PRICE RISES
🔴 JAPAN'S PM KISHIDA: CONSUMER SENTIMENT IS IMPROVING AMID MODERATE PRICE RISES.
*JAPAN'S FY2024 PAY INCREASES LARGEST IN MORE THAN 30 YEARS *JAPAN'S RENGO: ANNUAL WAGE HIKES HIT 5.28% VS 3.80% A YEAR AGO *RENGO: BASE PAY TO RISE 3.70% VS INITIAL 2.33% LAST YEAR
BoJ Has Made Final Adjustments To Lift Its Negative Interest Rate Policy At Next Week’s MonPol Meeting - Jiji https://t.co/yYNtKQu023
Japan's largest labor confederation said Friday that its member unions won an average 5.28% increase in wages this year, the biggest raise since 1991, providing impetus for a possible interest rate hike by the Bank of Japan next week. https://t.co/RM5ZOqIXNa via @NikkeiAsia
🔴 BANK OF JAPAN MAKING FINAL ARRANGEMENTS TO END NEGATIVE INTEREST RATE AT NEXT WEEK'S POLICY-SETTING MEETING - JIJI.
🔴 JAPAN'S LEADING UNION GROUP RELEASES INITIAL TALLY OF PAY DEALS.
BANK OF JAPAN MAKING FINAL ARRANGEMENTS TO END NEGATIVE INTEREST RATE AT NEXT WEEK'S POLICY-SETTING MEETING - JIJI
JAPANESE YEN EXTENDS GAIN AS RENGO REPORTS 5.28% WAGE HIKE
Japan's Rengo: Annual Wage Hikes Hit 5.28% Vs 3.80% A Year Ago - Base Pay To Rise 3.70% Vs Initial 2.33% Last Year - Japan's FY 2024 Pay Increases Largest In More Than 30 Years
🇯🇵JAPAN'S FY2024 PAY INCREASES LARGEST IN MORE THAN 30 YEARS
Japan Unions Win Over 5% Average Wage Hike: Kyodo
Japan Unions Win Over 5% Average Wage Hike - Kyodo
JUST IN “#JAPAN NO LONGER IN DEFLATION” - Fin Minister Suzuki JAPANESE UNIONS WIN 5%+ WAGE HIKE - Kyodo Well, it looks like #BOJ is being shown the “hike” direction and end the (obscene) Negative rates era that lead everyone to forget the true value of money… Popcorn time 🍿 https://t.co/4sEYqPWsGh https://t.co/xZUciIse2r
JUST IN: “#JAPAN NO LONGER IN DEFLATION” - Fin Minister Suzuki Well well, it looks like #BOJ is being shown the “hike” direction and end the (obscene) Negative rates era that lead everyone to forget the true value of money…. Popcorn time 🍿 https://t.co/SijGdm5dQZ https://t.co/xZUciIse2r
Reuters Poll: BOJ to End Negative Rates in April, High Chance of March, Analysts Say https://t.co/ESCfoU8Ivp
Japan on cusp of ending its negative interest rates experiment https://t.co/7tNeCdyVkc https://t.co/tNApPQF2yu
Eyes on Bank of Japan as unions announce wage hikes https://t.co/Swm8vgAOlv
⚠️ FACTBOX-WHAT WOULD THE BOJ'S STIMULUS EXIT LOOK LIKE? Full Story → https://t.co/FcZsdQIczq Prospects of strong wage hikes this year have heightened the chances the Bank of Japan will phase out its massive monetary stimulus in what would be a landmark shift away from its… https://t.co/MTmfL92IlP
⚠️ JAPAN ON CUSP OF ENDING ITS NEGATIVE INTEREST RATES EXPERIMENT Full Story → https://t.co/GOMSQFFtxZ The Bank of Japan is close to ending eight years of negative interest rate policy, with expected historical wage hikes heightening the prospect of a landmark shift away from…
Reuters poll: BOJ to end negative rates in April, high chance of March, analysts say https://t.co/YXgjdMvc85 https://t.co/dcg4KF10Qh
BoJ To End Negative Rates In April, High Chance Of March, Analysts Say - MS https://t.co/FSvECBjww8
Japan unions will unveil results of wage talks, presaging shift at central bank https://t.co/7Bo8pM6TxU https://t.co/uCP4s6MAcp
1/3 Financial Times: "Japan’s trade unions have negotiated an increase in wages that is certain to exceed the rate of inflation, marking a milestone in a country where real wages have stagnated since the late 1990s." https://t.co/D8hwoeQxL5 via @ft
BOJ's End to Negative Rates: March Expected, April Possible? Wakatabe https://t.co/PquuThdjVV
BOJ's End to Negative Rates: March Expected, April Possible? Wakatabe Former BOJ Deputy Governor says BOJ chief Ueda may want to wait for more Shunto wage negotiation data…
A former Bank of Japan official sees a chance the bank’s policy board will seize the opportunity to end its negative interest rate on Tuesday after early results of wage negotiations came in strong https://t.co/He58klbWxL
🔴 JAPAN CHIEF CABINET SECRETARY HAYASHI EXPECTS BOJ TO CONDUCT APPROPRIATE MONETARY POLICY TO ACHIEVE STABLE PRICE TARGETS, WORKING CLOSELY WITH GOVERNMENT
Japan no longer in deflation, wage hike trend strong, says finance minister https://t.co/2YKBUWCZLe https://t.co/rAbj9KApF3
Many major Japanese companies have taken a big stride toward real wage increases for their employees, and now attention is shifting to whether small and midsize enterprises will follow suit. https://t.co/6hYGL6b5RJ
JAPAN CHIEF CABINET SECRETARY HAYASHI: SPECIFIC TOOLS OF MONETARY POLICY, INTERPRETATION ON ECONOMIC INDICATORS UP TO BOJ
🔴 JAPAN CHIEF CABINET SECRETARY HAYASHI: BOJ TO DECIDE ON INTERPRETING ECONOMIC INDICATORS, MONETARY POLICY TOOLS
🔴 JAPAN CHIEF CABINET SECRETARY HAYASHI EXPECTS BOJ TO CONDUCT APPROPRIATE MONETARY POLICY TO SUSTAINABLY AND STABLY HIT ITS PRICE TARGET, WORKING CLOSELY WITH GOVT
🔴 JAPAN FINANCE MINISTER SUZUKI DECLINES TO COMMENT ON POSSIBLE POLICY STEPS FOR NEXT WEEK
Japan’s largest union group will release the most closely scrutinized wage figures in decades — numbers that may nudge the BOJ toward raising interest rates for the first time since 2007 https://t.co/r5Q0yCOYyJ
JAPAN FINMIN SUZUKI: WON'T COMMENT ON ANY BOJ POLICY STEPS TO BE TAKEN NEXT WEEK
JAPAN FINMIN SUZUKI: SPECIFIC MONETARY POLICY UP TO BOJ TO DECIDE
JAPAN FINMIN SUZUKI: GOVT TO MOBILISE ALL POLICY STEPS AVAILABLE TO CONTINUE THE WAVE OF WAGE HIKES
🔴 JAPAN'S FINANCE MINISTER SUZUKI DECLARES END OF DEFLATION IN JAPAN
🔴 JAPAN'S FINANCE MINISTER SUZUKI DOES NOT COMMENT ON ANY BOJ POLICY STEPS TO BE TAKEN NEXT WEEK
🔴 FINANCE MINISTER SUZUKI: GOVERNMENT TO UTILIZE ALL AVAILABLE POLICY MEASURES TO SUSTAIN WAGE INCREASES
🇯🇵 Sources have told Reuters that the central bank will debate the end of its negative rate policy next week if Friday's preliminary survey on big firms' wage talks outcome yield strong results. The BOJ will make a final decision on what would be the first rate hike in Japan in… https://t.co/NjEqVcD1an
The yen got a brief boost Thursday from a Jiji news service report that the Bank of Japan is poised to end its negative rate policy next week https://t.co/W9lljxwuwN
❖ TREASURY 10-YEAR YIELD RISES 10 BASIS POINTS ON DAY TO 4.29%
*TREASURY 10-YEAR YIELD RISES 10 BASIS POINTS ON DAY TO 4.29%
The bank of Japan is poised to exit negative interest rates at its March meeting, Jiji reported. The final decision will be made tomorrow after results of the annual spring wage negotiations, according to the report. https://t.co/wERglrdo0p
❖ JAPANESE YEN FIRMS VS US DOLLAR AFTER JIJI REPORT SAYS BOJ SET TO END NEGATIVE RATES NEXT WEEK; DOLLAR LAST DOWN 0.1% AT 147.58
JAPANESE YEN FIRMS VS US DOLLAR AFTER JIJI REPORT SAYS BOJ SET TO END NEGATIVE RATES NEXT WEEK; DOLLAR LAST DOWN 0.1% AT 147.58
🇯🇵The Bank of Japan will debate ending its negative interest rate policy next week if Friday's preliminary survey on big firms' wage talks outcome yield strong results, sources said, marking a landmark shift away from its decade-long stimulus programme.
Bank of Japan to discuss lifting negative interest rates, judgment based on wage increase tally, per Nikkei
JAPANESE BANKERS ASSOCIATION CHAIRMAN: LIKELIHOOD OF JAPAN ACHIEVING BOJ'S PRICE TARGET HEIGHTENING STEADILY
Major wage gains set stage for BOJ to end negative interest rate; bank likely to debate change next week https://t.co/2ZEMf6jCMz
EDITORIAL: With several major companies announcing their wage increases after the shunto spring labor wage negotiations, it is hoped that the trend will spread and help break the economy out of its prolonged slump. https://t.co/CtmwR0kK7H https://t.co/FAqz9z73Ua
Japan's money markets gird for end of negative rates https://t.co/qLAHphJGNt https://t.co/LOEGBQOrU0
JUST IN: JAPAN'S LARGEST INDUSTRIAL UNION UA ZENSEN REPORTS BIGGEST AVERAGE PAY RAISE OFFERS BY 231 FIRMS SINCE 2013, YEAR ON YEAR. Good luck #BOJ, I think you hit the top right corner here https://t.co/iKDKowZ8Uh https://t.co/xZUciIse2r
BoJ To Go Slow In Hiking Rates After Ending Negative Rates, Says Ex-Central Bank Executive - MS https://t.co/eTTNI5dqCf
"Nippon Steel agreed to an 11.8 per cent increase in base salary, exceeding its trade union’s request for the biggest jump in monthly pay since 1979" 👀 https://t.co/lt8rSrW1om
YIELD ON 10-YR JGB UP 2.5 BPS AT 0.780%
🔴 BANK OF JAPAN TO DISCUSS LIFTING NEGATIVE INTEREST RATES, JUDGMENT BASED ON WAGE INCREASE TALLY - NIKKEI. https://t.co/uwC1V63ANx
🔴 BOJ TO DISCUSS NEGATIVE RATE EXIT NEXT WEEK - NIKKEI
❖ BOJ TO DISCUSS NEGATIVE RATE EXIT NEXT WEEK AS JAPAN: NIKKEI
The BOJ "Has Made Up Its Mind To Hike Rates" After Union Wage Negotations Lead To Surge In Pay https://t.co/RqcRAVJHHP
🇯🇵Japanese workers secure biggest pay rise in three decades “Galvanised by the sharp rise in living costs and a deepening labour shortage, the country’s trade unions have negotiated an increase in wages [around 4%] that will likely exceed #inflation” https://t.co/0BMVFuRmIV https://t.co/ZjcSEVrfO0
A number of major Japanese firms agreed to solid pay increases on Wednesday as part of this year’s spring wage negotiations, sustaining momentum for raises. https://t.co/Vv6T1n9hVQ
Japanese workers have secured their biggest pay rise in decades. However even as inflation pressure declines, companies are still likely to face demands to raise wages. Here’s why: https://t.co/E8f86Tbf3n https://t.co/eFeC79vkdm
Japanese workers have secured their biggest payrise in decades. However even as inflation pressure declines, companies are still likely to face demands to raise wages. Here’s why: https://t.co/E8f86Tbf3n https://t.co/u6fZUOfN9o
JAPAN PM KISHIDA: LOTS OF FIRMS REPORTED BIG INCREASES IN WAGE HIKES
Japan’s largest employers announced record pay increases on Wednesday, signaling a break from the deflationary mindset that led to the country’s prolonged period of low economic growth known as the “lost decades.” https://t.co/0qqRH3vGRc
JUST IN: LOTS OF FIRMS IN #JAPAN REPORTED BIG INCREASES IN WAGE HIKES - PM KISHIDA ⚠️ Wait, wasn’t he actively seeking a wage-prices spiral that would have increased #Japanese people living standard or am I wrong?! Now the 🤡 is realising he just opened a pandora vase with all… https://t.co/mtiD8NKgkd https://t.co/Yc2NrP8AeN
🔴 JAPAN'S PM ADVISER YATA: THE GOVERNMENT WON'T MEDDLE IN THE BOJ'S INDEPENDENT POLICY-MAKING, WHEN ASKED IF SOLID WAGE OFFERS COULD TRIGGER AN END TO NEGATIVE RATES IN MARCH.
JAPAN PM ADVISER YATA SAYS GOVT WON'T MEDDLE IN BOJ'S INDEPENDENT POLICY-MAKING, WHEN ASKED IF SOLID WAGE OFFERS COULD TRIGGER END TO NEGATIVE RATES IN MARCH
JAPAN PM ADVISER YATA: MUST BROADEN PAY HIKES TO WORKERS NATIONWIDE, IN EVERY PREFECTURE
JAPAN PM ADVISER YATA: WAGE HIKES THIS YEAR LIKELY TO EXCEED LAST YEAR'S, MUST CONTINUE PAY RISES NEXT YEAR AND THEREAFTER TO DEFEAT DEFLATION