Japan's PM Kishida: We intend to raise minimum wages beyond JPY1,000 nationwide

Market news

15 March 2023

Japan's PM Kishida: We intend to raise minimum wages beyond JPY1,000 nationwide

Following the highly-anticipated "shunto" spring wage negotiations on Wednesday, Japan’s PM Fumio Kishida said that they are aiming to raise minimum wages beyond JPY¥1,000 nationwide.

Additional comments

“Government to mobilize all measures available to prepare the environment for wage hikes.”

“This spring marks a turning point for growth and wealth distribution.”

Market reaction

USD/JPY is defending minor bids, trading at around 134.30, having briefly topped 135.00.

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