BOJ to mull pros and cons of rate hike in December

Governor Ueda Kazuo said on Monday, the Bank of Japan (BOJ) would consider the pros and cons of raising the benchmark interest rate at its next meeting in mid-December. He referred to the record hike in the minimum wage this fiscal year, and plans by both labor unions and management to steadily proceed with wage increases.

The governor said the BOJ is actively collecting information regarding corporate stances on wage increases. The governor added that even if the policy interest rate is raised, accommodative financial conditions would be maintained. Its next meeting is scheduled for two days from December 18.