Indicators

Japan’s Slower Wage and Export Growth Backs Case for BOJ Caution

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By Erica Yokoyama and Keiko Ujikane

May 8, 2025 at 11:32 PM UTC

Updated on

May 9, 2025 at 2:00 AM UTC

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Gains in Japan’s wages cooled more than expected in March while early trade figures for April showed export growth slowing, adding to the case for the Bank of Japan to proceed cautiously with interest-rate hikes as economic risks at home and abroad continue to mount.