Today’s wages data highlights how far Japan’s central bank is away from its 2% inflation target
here earlier. After adjusting for inflation, wages fell for a third consecutive month – suggesting that wages are struggling to keep up with inflationary pressures.
And that says a lot considering how low inflation is in Japan.
You still got to tip your hat to Kuroda though. The guy’s still trying even though he knows he’s fighting a losing battle (not like he has a choice). Just look at this “I’ll wave my hands in the air and inflation may possibly rise” trick: