Japan chief cabinet secretary Hayashi says wage rises will spread in Japan

Chief Cabinet Secretary Hayashi

• Wage increases likely to spread to part-time workers and small businesses by fall with strong Shunto results and minimum wage increases

• No comment on daily stock movements

• He says it is important for the government to make its decision calmly, when asked about the volatility of Tokyo stocks.
• Closely monitor market movements with a sense of urgency.
• It will work closely with the Bank of Japan, managing economic and financial policies comprehensively.
• I will not comment on forex levels.
• It is important that currencies move in a stable manner that reflects the fundamentals.
• Monitor Forex market movements closely.

Shunto is a Japanese term for “spring wage offensive.” It refers to wage talks held by company unions across Japan at the same time every spring.

This article was written by Eamonn Sheridan on www.forexlive.com.