Japan's basic wages have seen the largest increase in 32 years, boosting the prospect of a rate hike by the Central Bank of Japan

January 9th, Jinshi Data: The basic wages of Japanese workers have achieved the largest increase in 32 years, indicating that a positive economic cycle is forming, keeping the door open for further interest rate hikes by the Central Bank of Japan in the near future. The Ministry of Health, Labor and Welfare of Japan announced on Thursday that basic wages in November rose by 2.7% year-on-year, pushing nominal wages up by 3%. Economists had previously predicted a 2.7% increase in nominal wages. A more stable wage trend indicator shows that wages for full-time workers have risen by 2.8%, maintaining 2% or higher for 15 consecutive months. This indicator avoids sampling issues and does not include bonuses and overtime pay.