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TOKYO -Japanese companies have agreed to raise pay by 5.20% on average this year, the biggest rise in 33 years, the country s largest union group Rengo said on Thursday, wrapping up its fourth tally. ....
Japan is well-known for following dovish monetary policies to stimulate economic activity. As the world's third-largest economy has held its key interest rates at negative 0.1% since February 2016. While the country successfully navigated through post-pandemic inflation woes without raising benchmark interest rates, the stickier-than-expected inflation trajectory drove the Bank of Japan (BOJ) to adopt a more hawkish approach last week, marking the first rate hike in 17 years. Don't Miss: One sto ....
In a rare display of unity in lifting Japan out of its prolonged deflation, leaders from labor and management jointly called for pay hikes exceeding inflation, during the annual “shunto” wage negotiations. ....