Japanese companies' wage increases exceed 5% for three consecutive years, supporting the Bank of Japan's interest rate hike

The United Federation of Trade Unions stated that Japanese companies have agreed to a salary increase of over 5% for three consecutive years, with an average increase of 5.01% this year, 5.25% last year, and 5.10% the year before. Economist Kazutaka Maeda from Meiji Yasuda Institute stated that the results of labor management negotiations and the normalization of real wage growth support the Bank of Japan's continued gradual interest rate hike path.