Japan's biggest companies agreed to raise wages by 5.28 per cent for 2024, the heftiest pay hikes in 33 years, the country's largest union group said on Friday (Mar 15), reinforcing views that the county's central bank will soon shift away from a decade-long stimulus programme. The much-stronger-than-expected increase comes as the Bank of Japan looks close to ending eight years of negative interest rate policy. BOJ officials have stressed the timing of a pivot would depend on the outcome of this year's annual wage negotiations. Policymakers hope that big pay rises will boost household spending and produce more ... (full story)