Sixth Month in a Row: Japan's Real Wages Continue Growth

Japan's central bank has been keeping a close eye on wage growth as it considers further interest rate hikes. According to recent government data, real wages in Japan grew by 1.6% in June compared to the same month last year, marking the sixth consecutive month of increases.

The average nominal wages in Japan rose by 3.4% to ¥531,677 per month, which is faster than the revised 3.3% gain seen in May. Real pay growth also matched May's revised 1.6% gain.

The Bank of Japan maintained interest rates at its July policy meeting, with Governor Kazuo Ueda highlighting upside risks to prices as a potential reason for another rate hike as soon as September.