- BoJ’s Ueda: No statistical evidence that interest rate levels have direct correlation with wage moves
Market news
8 November 2023
BoJ’s Ueda: No statistical evidence that interest rate levels have direct correlation with wage moves
Bank of Japan (BoJ) Governor Kazuo Ueda said on Wednesday, “there is no statistical evidence that interest rate levels have a direct correlation with wage moves.”
Additional quotes
Longer run, it's important to heighten labor productivity to push up inflation-adjusted real wages.
As for monetary policy, it can help raise wages via tighter labor market conditions by keeping real interest rates low and stimulating economy.
Market reaction
USD/JPY was last seen trading at 150.46, still up 0.08% on the day.
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