-
BOJ may tweak yield control this year if wage hikes broaden
The Bank of Japan (BOJ) could tweak its yield control policy to dial back monetary stimulus this year if wage hikes spread beyond big firms, making it likely that higher pay will become a sustained trend, its former top economist Seisaku Kameda said. A growing number of big companies, including Uniqlo parent Fast Retailing, are pledging to raise pay as intensifying labour shortages and rising living costs force them to shift away from their decades-long custom of keeping prices and wages low. While top firms are likely to offer significant pay rises at this year’s annual “shunto” spring wage talks with unions, ... (full story)