BOJ Raises Economic Views for 2 Regions

Tokyo, Jan. 9 (Jiji Press)--The Bank of Japan raised its economic assessments for the Hokuriku central and Tohoku northeastern regions in a quarterly report Thursday while maintaining its views on the other seven regions.

The report, adopted at the day's meeting of the BOJ branch managers, said that the economies of the nine regions are either "recovering moderately," "picking up" or "on a moderate recovery trend."

BOJ Governor Kazuo Ueda has said he considers pay hike proposals toward this year's "shunto" spring wage talks as a "big factor" for monetary policy decisions

Many branch managers reported that, as the minimum wages have been raised and structural labor shortages persist, recognition of the need for steady wage hikes has spread among companies of various sectors and sizes.

On Hokuriku, hit by a powerful earthquake a year ago, the report said that its economy "has been recovering moderately" although some areas are still affected by the Noto Peninsula quake.

[Copyright The Jiji Press, Ltd.]