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Japan’s Higher Base Wages in July Likely Little Relief to BOJ

The first increase in base wages in four months is unlikely to offer much relief to the Bank of Japan as it undertakes a review of policies meant to stoke inflation and growth.

Average monthly base pay, excluding overtime and bonuses, rose 0.4 percent in July from a year earlier to 241,518 yen ($2,326), the labor ministry said Monday. That was the first increase since March.