Inflation & Prices
Japan Urges Regional Banks to Raise Wages as Inflation Jumps
- Nation’s annual pay talks in spotlight as cost of living soars
- Senior managers at three regional lenders say considering move
The nation’s annual pay talks are in the spotlight as the cost of living soars.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Japan’s financial regulator is urging regional banks to raise wages for employees, people familiar with the matter said, responding to Prime Minister Fumio Kishida’s call for higher pay with inflation hitting its highest level since 1981.
Officials at the nation’s Financial Services Agency are telling regional banks - which number around 100 - that it’s important to invest in talent, said the people who asked not to be named because the discussions are private.