Japan’s largest trade union: Preliminary data shows average wage hike of 5.28% this year

That compares with the 3.80% seen in fiscal year 2023. And for added context, the above represents the largest pay hike in more than 30 years.

Once again, this should very much be a given already – in terms of expectations at least. The question now is whether or not the BOJ is ready to use this as a platform for meaningful policy action next week. That remains to be seen considering Ueda’s more cautious remarks during the week.

This article was written by Justin Low at www.forexlive.com.