Keidanren Chairman: BOJ’s Monetary Policy Likely to Normalize in the Not-Too-Distant Future

The Yomiuri Shimbun

21:01 JST, March 11, 2024

The Japan Business Federation (Keidanren) Chairman Masakazu Tokura expressed on Monday his expectations for this year’s shunto spring wage negotiations, which begins on Wednesday with the date for major companies to make their responses, saying, “We feel momentum for wage increases beyond last year.”

Some of the major companies have already been responding in full to labor union demands for wage increases due to high prices and labor shortages.

Tokura also said that the Bank of Japan, which is closely watching wage hike trends with a view to changing its monetary policy in the future, “is likely to take steps toward monetary normalization in the not-too-distant future.”