Japan Finance Minister Suzuki: Important to follow up on higher wages

Dhwani Mehta FXStreet

Japan’s Finance Minister Shunichi Suzuki said on Friday, “it is important to follow up on the implementation of wage hikes along with the country's growth strategy.”

Earlier on, a Bank of Japan (BOJ) official noted that an upward pressure in wholesale inflation is broadening.

These comments come after the country’s wholesale price inflation jumped to a record high of 9% YoY in November amid supply bottlenecks and rising raw material costs.

Market reaction

USD/JPY is posting small losses amid a broadly weaker US dollar and upbeat Japan’s data. The spot was last seen trading at 113.35, down 0.06% on a daily basis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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