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MNI INTERVIEW: BOJ To Wait Until Aug To Gauge Wages - Momma

(MNI) Tokyo
(MNI) Tokyo

The BOJ wants wages growth but they will have to wait until August to gain good insight, said former BOJ chief economist Kazuo Momma.

The Bank of Japan will have to wait until August to gain good insight in whether wage increases are gaining traction, though inflation is expected to moderate over coming months, a former BOJ chief economist said.

“As for wages, the most typical data is the government’s monthly labour survey. The BOJ is focused on macro-economic data and the bank cannot assess overall wages through only one month of data,” Kazuo Momma, who was also the BOJ’s executive director in charge of monetary policy and is now executive economist at Mizuho Research and Technologies, told MNI.

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The Bank of Japan will have to wait until August to gain good insight in whether wage increases are gaining traction, though inflation is expected to moderate over coming months, a former BOJ chief economist said.

“As for wages, the most typical data is the government’s monthly labour survey. The BOJ is focused on macro-economic data and the bank cannot assess overall wages through only one month of data,” Kazuo Momma, who was also the BOJ’s executive director in charge of monetary policy and is now executive economist at Mizuho Research and Technologies, told MNI.

Keep reading...Show less