Business / Economy Jan 17, 2023
Head of Japan’s largest trade union says 2023 is pivotal for wages
Trade union leader has stressed the importance of moving toward continued wage growth in the face of rapid inflation and economic stagnation.
Trade union leader has stressed the importance of moving toward continued wage growth in the face of rapid inflation and economic stagnation.
For now, stepping back from intervention removes a potential source of conflict between Washington and Tokyo.
A continued acceleration of price growth over the coming months will make the governor's stance on stimulus increasingly difficult to defend.
The nation's GDP is predicted to have returned to its pre-pandemic level, but weak wages and a darkening global outlook will likely see Haruhiko Kuroda stick to his stance.
The Ministry of Finance has started looking into ensuring there’s sufficient liquidity in the market, said Michio Saito, who heads the department that oversees debt issuance.
Details of the June inflation data offer some support for the BOJ’s argument that the current inflation is largely based on cost-push pressure.
The recent moves in the yen don’t reach the level of excessive and disorderly moves that are warned against in existing G7 currency agreements, Mitsuhiro Furusawa said.
The government is set to put together a five-year plan by the end of 2022 that will seek to increase money going to startups tenfold.
Kishida said the country needs to focus on new areas of growth as a panel laid out proposals for his "new form of capitalism” aimed at reducing social disparities and driving the economy.
Japan’s target of balancing its budget excluding debt payments by 2025 had long seemed unlikely, even by the government’s own growth projections.