world-economy

Japan's Growth Minister Denies Rate-Pressure Campaign

Japan's Growth Strategy Minister Minoru Kiuchi rejected characterizations that Prime Minister Sanae Takaichi's administration is lobbying the central bank to maintain accommodative monetary policy. Kiuchi's statement comes as the Bank of Japan evaluates rate trajectories amid wage growth. Japanese nominal wages have expanded beyond 3%, marking the longest consecutive streak of gains since 1992. This wage momentum has reinforced the BOJ's position on potential rate adjustments. Policy officials across global markets remain cautious about forward guidance on interest rates, emphasizing the need for flexibility in market messaging.