Wage growth in Japan slowed sharply in November, strengthening investor bets that the Bank of Japan will maintain its ultra-loose monetary stance later this month.
Nominal cash wages for workers rose 0.2 per cent from a year earlier, compared to a 1.5 per cent growth in October. Economists blamed sampling issues for the sharp slowdown, noting that wage growth remained relatively robust at 2 per cent excluding the sampling bias.
Real wages, however, fell 3 per cent, compared with a 2.3 per cent decline in October.
BoJ governor Kazuo Ueda has argued that more evidence of wage growth was needed for the central bank to be confident that it can sustainably achieve its 2 per cent inflation target.
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