This will be a much anticipated meeting as Kishida had previously touted for big wage hikes next year that will exceed what we have seen this year. Considering what is at stake, this is something worth keeping an eye out for as it tees up the upcoming spring wage negotiations next March. In turn, that will act as a cornerstone for the BOJ to start normalising monetary policy.

The meeting tomorrow will involve representatives from Japan's largest labour group, Rengo, and business lobby, Keidanren, alongside other business leaders and labour unions.