Central Banks

BOJ Signals Rising Confidence Over Wage Growth This Year

Morning commuters in Tokyo, Japan

Photographer: Kiyoshi Ota/Bloomberg
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The Bank of Japan indicated it has more confidence in much-awaited wage increases for this fiscal year, a shift that is likely to keep fueling market speculation over policy adjustments this year.

“It is highly likely that the growth rate of scheduled cash earnings will increase clearly this year,” the central bank said in its full quarterly economic report released Monday. “This is likely to underpin private consumption.”