TOKYO -- Japan's largest employers announced bullish pay increases on Wednesday amid rising inflationary pressures on households, while the Bank of Japan continued watching the market for signs to raise interest rates.
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Japanese companies boost wages amid mounting inflation
BOJ to raise interest rates to a "neutral" level while monitoring for growth
Every spring, Japanese unions and management engage in wage bargaining known as shunto to set pay rates before the start of the fiscal year in April. (Photo by Toshiki Sasazu)
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