Wages data from Japan, where everyone wants higher pay (except for those actually paying it out, natch)
Labour cash earnings for March -0.4% y/y ... big miss
- expected +0.5%, prior +0.4%
Real Cash Earnings -0.8% y/y
- prior flat y/y
Japanese authorities want higher pay to fuel higher consumer spending and then higher inflation ... that's what they want but wage rises are slow, at best ... and not at all according to this data.
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Meanwhile, Japanese finance minister Aso has been speaking:
- Frank discussions at G7
- Will explain Japan's economic policies there
- Will discuss inequality and growth at the G7
- Will be watching European political situation closely
