In Japan, with the economy entrenched in deflation for 15 years since the recession of the 1990s, people are unable to shake the perception that neither prices nor wages will rise. Steady wage hikes are crucial to kick-starting domestic demand and keeping inflation sustainably around its 2% target. The outcome will have a huge influence on how soon the Bank of Japan (BOJ) can end ultra-low interest rates. The precedent set at the "shunto" spring wage talks also influences wages at smaller firms that employ seven out of 10 Japanese workers. TOKYO (Reuters) - Every March, management of major Japanese firms meet with unions for wage talks across industries that set the tone for employees' pay in the new fiscal year. Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close
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