Bank of Japan Finalizes Plans to End Negative Interest Rate Policy

TOKYO, Mar 16 (News On Japan) - In response to the first round of results from this spring's wage negotiations, which showed the highest level of wage increases in 33 years, the Bank of Japan is making final adjustments to end its negative interest rate policy at next week's monetary policy meeting.

The BoJ has previously stated that it would consider ending the negative interest rate policy once a stable and sustainable achievement of the 2% price stability target becomes foreseeable. The bank has emphasized the importance of wage trends in this spring's negotiations in making its decision.

In light of this, the first round of wage increase results announced by the Japanese Trade Union Confederation (Rengo) on the 15th showed an average wage increase rate of 5.28 percent, significantly surpassing the previous year.

As a result, the BoJ is making final adjustments to revise its large-scale monetary easing measures, including ending the negative interest rate policy, at its monetary policy meeting on the 18th and 19th of next week. If the negative interest rate is lifted, it will be the first rate hike in 17 years.

Source: 日テレNEWS

MORE Business NEWS

M&A League Table: Mitsubishi Morgan Takes Top Spot in Q1 with Sekisui House's Acquisition of US Company

Mitsubishi UFJ Morgan Stanley Securities claimed the leading position in advising Japan-related M&A transactions for the January to March 2024 period, with a total value of approximately US$13 billion, according to data from the London Stock Exchange Group (LSEG).

Sumitomo Acquires Local Clinic Operator in Malaysia

Sumitomo Corporation is making a bold move into the healthcare business in Malaysia. They have acquired a local clinic operator with plans to expand its network to 100 facilities and transform it into a consolidated subsidiary. By 2026, the Japanese group aims to triple the number of facilities and enhance primary healthcare services.

Concerns Rise Over Children's Education Funding, Survey Reveals

In a survey conducted by a major life insurance company to coincide with Children's Day on May 5th, it was revealed that over half of the respondents felt uneasy about saving for their children’s education.

< 2 3 4 5 >

Kamakura on Foot Helps Solve Curse of Over-tourism

In the ancient city of Kamakura, an experimental initiative promoting walking to address over-tourism issues and potentially unveil new charms took place. Local residents express hopes that this experiment will not only alleviate congestion but also lead to the discovery of fresh attractions.

The Future of Tokyo with SusHi Tech

In preparation for SusHi Tech Tokyo 2024, exhibitions were held on the weekend across various locations in Tokyo highlighting sustainable technology for the future.

School Absence in Japan Climbs to Nearly 300,000; One Girl's Story

School absenteeism among Japanese elementary and middle school students has surged to approximately 300,000, with many students struggling to return after long holidays like Golden Week. In this context, a sixth-grade girl who overcame school absence shared her story.

Carp Streamers Adorn Tokyo Tower on Children's Day

Despite the unseasonable heat, many visitors crowded in to view a total of 333 carp streamers, both large and small, displayed today, on Children's Day, in front of Tokyo Tower.

Japan's Rice Flour Revolution: Ministry of Agriculture Forms 'Komeni' Team

Amid global wheat shortages due to abnormal weather conditions and the depreciation of the yen, Japan is seeing price hikes and suspensions in the sale of products like orange juice, leading some to turn to domestic alternatives like mandarin juice. One such alternative gaining attention as a substitute for imported goods is rice flour.