As reported by Reuters, ex-Bank of Japan (BoJ) Deputy Governor Hiroshi Nakaso stated that increased workplace participation and improving labor productivity is keeping inflation on the low end.
Key quotes
“Labor productivity in Japan … is improving quite steadily in recent years. Meanwhile, real wages are also rising but not catching up with the improvement in labor productivity,” Nakaso said in a seminar hosted by the International Monetary Fund in Tokyo.
“Along with increased labor-force participation, improvement in labor productivity is an important factor underlying Japan’s seemingly low inflation,” he said.
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