Reuters Japan corporate survey:
- Only 7% of Japanese companies believe PM Kishida's pledge to have wages grow faster than inflation is achievable
61% of japanese companies see no need for govt to take countermeasures against China's excess production capacity
That 7% on wage rises is troubling for the Bank of Japan's inflation goal - the Bank is relying on faster wage growth to propel demand-driven inflation.
Reuters converting the sentiment amongst most firms:
- "I'm afraid there are many mid-sized and small companies that just can't make ends meet if they implement wage hikes that keep pace with inflation," a manager at a wholesale company wrote. Half said the goal was not attainable while 43% said it was hard to tell.
USD/JPY update, not a lot of movement:
