Japan data – October real wages fall the hardest since June of 2015 | Forexlive

Japan real wages (i.e. after inflation ) have fallen 2.6% y/y in October (September was -1.2%)

Wage growth is a focus for the Bank of Japan. Officials from the bank, including Bank of Japan Governor Kuroda, have said time and again that they view inflation as transitory, that it is being pushed along by rising costs only, and that wage growth needs to be seen to cement inflation at target in a stable and sustainable fashion. No sign of that in the data for October. There is no pivot coming from the BOJ any time soon.