Strong Japanese wage growth boosts chances of October rate hike


Solid wage growth is likely to support recovery in spending and sustainable inflation Japan’s labour cash earnings rose 4.1% year on year in July, accelerated from 3.1% in June, beating the market consensus of 3.0%. Bonus pay (7.9%) rose significantly, while base pay (2.6%) also rose firmly. The same-sample cash earnings, the preferred measure of …