Japan’s PM Kishida calls on firms to give wage hikes that exceed inflation

Japanese Prime Minister Fumio Kishida said on Wednesday that he “would like to ask firms to achieve wage hike that exceeds the rate of inflation.”

Additional quotes

“I would like to create an economic structure in which wages rise every year. “

“Must create a strong economy in which rising real wages become the norm.”

Market reaction

At the time of writing, USD/JPY is consolidating the renewed downside at around 130.80, modestly flat on the day.