Wages fell in December at their fastest in five months after adjustment for inflation
December inflation-adjusted real wages -0.5 pct yr/yr .... real wages fall at fastest pace since July 2017
Total cash earnings +0.7 pct yr/yr
- overtime pay +0.9 pct yr/yr
Japanese authorities would really, really like wages to grow more quickly, to thus spur consumer spending, and (for the BOJ at least) to accelerate inflation towards target.
But, they aren't. And thus, unless the BOJ alter its inflation target, there is no sign of an imminent slowing in monetary easing.
