日本央行一再表示，持续、广泛的工资上涨是进一步收紧货币政策的先决条件。The Bank of Japan stated on Thursday that many companies in Japan believe it is necessary to continue raising wages due to a structural labor shortage, indicating that the conditions for recent interest rate hikes are gradually being met.
According to the Zhitong Finance APP, the Bank of Japan stated on Thursday that many Japanese companies believe it is necessary to continue raising wages due to a structural labor shortage, indicating that the conditions for recent interest rate hikes are continuously being met.
The central bank stated that some companies are studying the salary increases for this year, which indicates that they are increasingly confident that the significant salary growth seen last year will continue.
The Bank of Japan has repeatedly stated that sustained and widespread wage increases are a prerequisite for further tightening of monetary policy.
In a statement regarding the health of the regional economy, the Bank of Japan added that many regions in Japan have seen significant price increases as companies seek to raise wages.
The Bank of Japan stated that some companies have not yet decided how much to increase wages this year, while other smaller enterprises remain cautious about raising wages, as rising costs will impact profits.
On the other hand, some companies are already discussing the details of the interest rate hike. Overall, there are many reports that many companies believe it is necessary to continue raising wages, the bank stated in a release after its quarterly meeting with regional branch managers.
This survey result is one of the factors that the Bank of Japan will carefully review at its next policy-making meeting held on January 23 to 24, with some Analysts expecting the central bank to raise the interest rate from the current 0.25% at the meeting.
The Bank of Japan upgraded its economic assessment for two of the nine regions in Japan while maintaining its view on the other regions, stating that they are recovering or experiencing moderate growth.
The Bank of Japan ended its negative interest rate policy in March 2024 and raised the short-term interest rate target to 0.25% in July of the same year, as the central bank believes Japan is likely to continue achieving its 2% inflation target.
In a news conference held after the central bank's decision to maintain stable interest rates last month, the Bank of Japan Governor Kazuo Ueda expressed his hope to wait for more data to determine whether wage increases will expand to more companies during this year's negotiations between businesses and labor unions.
The president of a major business lobbying group said on Tuesday that Japan's large enterprises may see an average wage increase of about 5% in 2025, remaining the same as last year. The key is whether wage increases will spread to small businesses in remote areas.
Wage data released earlier on Thursday showed that basic wages (i.e., regular wages) rose by 2.7% in November, marking the fastest increase since 1992.
A survey conducted last month indicated that all respondents expect the Bank of Japan to raise the interest rate to 0.50% by the end of March.
