Kazuo Ueda, governor of the Bank of Japan (BOJ), far right, speaks during an event at the central bank's headquarters in Tokyo, Japan, on Wednesday, May 31, 2023.
Ueda said central banks need to be more careful about how they communicate with increase in their toolkits and advancements in monetary policy making.
Global financial markets have been closely watching Japan's wage data, as Bank of Japan Governor Kazuo Ueda regards pay growth as a key gauge to consider in deliberations about a shift in policy.
Regular wages rose 1.8% in May from a year before, labor ministry data showed, the biggest gain since February 1995.
The strong base pay growth boosted worker's total cash earnings, or nominal wages, by 2.5% in May, after a revised 0.8% increase logged in April.
Persons:
Kazuo Ueda, Ueda, Noriaki Sasaki, Kuroda, Hisashi Yamada, Rengo
Organizations:
Bank of Japan, Yomiuri Shimbun, Bloomberg, Getty, Global, Hosei University
Locations:
Tokyo, Japan