Japan business lobby urges member firms to increase pay

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Japan business lobby urges member firms to increase pay

<p>The Japan Business Federation will urge member companies to raise pay next spring according to a report in the Nikkei.</p><p>-</p><p>Bank of Japan Governor Kuroda has been talking about higher wages fuelling inflation. I pointed this out last week here:</p><ul><li><a href="https://www.forexlive.com/centralbank/usdjpy-is-a-touch-lower-after-the-boj-statement-minor-crack-in-boj-resolve-20221028/" target="_blank" data-article-link="true">USD/JPY is a touch lower after the BOJ statement - minor crack in BOJ resolve?</a></li></ul><p>He said it again yesterday:</p><ul><li><a href="https://www.forexlive.com/centralbank/boj-kuroda-inflation-impact-from-rising-import-prices-likely-to-start-diminishing-in-2023-20221102/" target="_blank">the upward revision in the BOJ's October report reflects our view that prices are likely to gradually rise accompanied by wage hikes</a></li></ul><p>This is a significant change from Kuroda and the Bank of Japan. Now Japan Inc (business branch) is getting involved.</p><p>Take careful note folks, this is laying the groundwork for a change in policy from the Bank. Its not imminent but it is coming.  </p>

                This article was written by Eamonn Sheridan at forexlive.com.

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