The post Hard to set numerical target for minimum wage now appeared on BitcoinEthereumNews.com. Japan’s Prime Minister Sanae Takaichi said on Friday that the government is not in a position to set a new numerical target for the nationwide minimum wage, arguing that instead that its role is to create conditions that enable businesses to raise pay faster than inflation. Key quotes Hard to set numerical target for minimum wage now, government’s job is to create environment that allows for firms to offer pay that exceeds pace of inflation. Since government set minimum wage target, have heard complaints from firms in regional areas of Japan. Market reaction As of writing, the USD/JPY pair is up 0.04% on the day at 154.60. Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year… The post Hard to set numerical target for minimum wage now appeared on BitcoinEthereumNews.com. Japan’s Prime Minister Sanae Takaichi said on Friday that the government is not in a position to set a new numerical target for the nationwide minimum wage, arguing that instead that its role is to create conditions that enable businesses to raise pay faster than inflation. Key quotes Hard to set numerical target for minimum wage now, government’s job is to create environment that allows for firms to offer pay that exceeds pace of inflation. Since government set minimum wage target, have heard complaints from firms in regional areas of Japan. Market reaction As of writing, the USD/JPY pair is up 0.04% on the day at 154.60. Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year…