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Japan Base Pay Gains by Record, Keeps Door Open for BOJ Hike
Base salaries for regular workers in Japan rose by a record, a further indication of progress toward a positive economic cycle that will support market speculation of a near-term rate hike by the central bank. Base pay for full-time workers increased by 2.8% in October from a year ago, the biggest gain for comparable data back to 1994, the labor ministry reported Friday. Real cash earnings remained unchanged, avoiding a decline for the first time in three months, and beating economist estimates of a decrease. Growth in nominal wages for all workers accelerated to 2.6% from 2.5% the previous month, matching estimates. ... (full story)