Japanese workers' wages hit the biggest increase in 32 years, which may prompt the Bank of Japan to raise interest rates

According to Jinshi Data, Japanese workers' basic wages have recorded the largest increase in 32 years, indicating that a positive economic cycle is taking shape. Japan's Ministry of Health, Labor and Welfare announced that basic wages increased by 2.7% year-on-year in November, and nominal wages increased by 3%. Economists had expected nominal wages to increase by 2.7%. A more stable indicator of wage trends showed that full-time workers' wages increased by 2.8%, remaining at or above 2% for 15 consecutive months.