Japanese Prime Minister Shinzo Abe, speaking at a congress of the ruling Liberal Democratic Party in Tokyo on Sunday, said:
“We will seek to translate improvements in corporate earnings into wage increases. We must create a virtuous economic cycle.”
It remains to be seen whether he will be successful in his efforts to get wages boosted, but he is keeping the pressure on, and his calls are going to go down well with the bulk of the electorate.
Abe, his administration, and the BOJ all want wage growth in addition to the rising CPI.
