The Federation of Japanese Laborers announced that the unions have achieved a 5.46% increase in average wages, higher than last year, and released it before the Central Bank meeting, which led to a yen depreciation. The strong 'spring struggle' reflects Japan's gradual recovery. According to surveys, the Central Bank will maintain its policy, with a very low probability of a rate hike, and the next rate hike is expected in the summer.
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The Federation of Japanese Laborers announced that the unions have achieved a 5.46% increase in average wages, higher than last year, and released it before the Central Bank meeting, which led to a yen depreciation. The strong 'spring struggle' reflects Japan's gradual recovery. According to surveys, the Central Bank will maintain its policy, with a very low probability of a rate hike, and the next rate hike is expected in the summer.