Japan’s jobless rate, standing at 2.5% in November, is approaching levels last seen during the early 1990s. | Image:Unsplash Japan’s major business lobby, Keidanren, is set to urge its member companies, including prominent blue-chip entities, to implement substantial pay raises for workers. The objective is to alleviate the impact of escalating living costs and decisively put an end to deflation in the country. The call to action by Keidanren carries significant implications for the Bank of Japan’s (BOJ) monetary policy, particularly its negative interest rates. Analysts suggest that the normalisation of BOJ policy, including a potential phase-out of negative interest rat
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