Japan's June real wages rise for first time in nearly two years

Japan saw an increase in inflation-adjusted real wages in June for the first time in over two years, driven by the fastest nominal pay gain in nearly three decades, according to recent data. This supports the Bank of Japan's view that wage increases are expanding. However, the same month also witnessed a larger-than-expected drop in household spending, complicating the central bank’s strategy to cautiously raise interest rates.