The Governor of the Bank of Japan, Haruhiko Kuroda, commented today that wage growth will likely accelerate as companies raise wages to compensate households for the higher cost of living and cope with a growing labor shortage.
Speaking in Parliament, Kuroda has made the following key comments:
The foreign exchange market moves based on various factors. We will continue to closely monitor market movements and their impact on the economy.
It is important that the foreign exchange market moves in a stable manner and reflects economic fundamentals..
The Government will closely monitor the economy and markets.
Wage growth likely to accelerate as the economy improves, given the tightening of the labor market.
The outcome of the spring wage negotiations is likely to reflect the tightness in the labor market and recent price rises.
Source: Fx Street
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