Spring labor battle: Today is the day for intensive responses; major companies are making early settlements one after another with high wage increases. In order for the Japanese economy to completely break away from deflation and shift to a virtuous cycle, it is necessary to widely realize wage increases and lead to increased consumption.
This year's spring labor union will be a major turning point in determining whether Japan's economy can completely break free from deflation. The Bank of Japan is also closely monitoring trends in wage increases as a basis for deciding whether to change its large-scale monetary easing measures.