Bank of Japan signals progress in wage, price hikes

TOKYO: The Bank of Japan said wage hikes were broadening across the economy due to tight labour market conditions, signalling its confidence the country was making progress toward durably achieving its 2% inflation target.

The optimistic assessment, made at the BOJ's quarterly meeting of regional branch managers on Monday, may heighten the case for the central bank to raise interest rates as soon as its next meeting on July 30-31.