Japan Real Wages Rise for Sixth Straight Month Amid Interest Rate Hikes

Japan's real wages saw a sixth consecutive month of growth in June, rising 1.6% year-over-year. This increase in real pay was matched by May's revised 1.6% gain.

Average nominal wages, or total cash earnings, jumped 3.4% to 531,677 yen ($3,373.6) per month, outpacing the revised 3.3% growth in May.

The Bank of Japan maintained interest rates at its July policy meeting, but Governor Kazuo Ueda noted 'upside risks to prices', a nod towards another potential rate hike as soon as September.