Japan's real wages rise year-on-year for the third consecutive month, providing further rationale for the central bank to raise interest rates

Golden Ten Data, May 8 — Data released on Friday shows that Japan's real wages grew by 1% year-on-year in March, marking the third consecutive month of growth. This provides further support for the Bank of Japan to raise interest rates at its June meeting. The data highlights the steady growth in Japanese wages; previously, a Reuters survey of economists found that nearly two-thirds expect the Bank of Japan to raise interest rates to 1.0% by the end of June.