Japan PM Kishida asks firms to achieve larger pay hikes in 2024

Prime Minister Fumio Kishida on Monday urged Japanese firms to raise pay at a faster pace in 2024 than this year, before the start of annual wage negotiations that would sway the Bank of Japan's monetary policy.In a joint appearance with Kishida at an event organized by the country's powerful business lobby, BOJ Governor Kazuo Ueda said the likelihood of attaining the central bank's 2 percent inflation target is "gradually rising" and the outcome of the so-called shunto spring wage talks between management and labor unions holds "the key."Financial markets expect the BOJ to end its negative…READ FULL ARTICLE