Japan's PM vows to do utmost to tackle negative impact of price hikes

TOKYO, Japan Kyodo - Japanese Prime Minister Fumio Kishida pledged on Nov. 28, 2023, to take all necessary measures to tackle the negative impact of recent price hikes by achieving wage growth in collaboration with the public and private sectors. (Kyodo)

Norwegian central bank raises interest rate by 0.5 pct

STORY: Norwegian central bank raises interest rate by 0.5 pct DATELINE: June 23, 2023 LENGTH: 00:01:26 LOCATION: Oslo CATEGORY: ECONOMY SHOTLIST: 1. various of the Norges Bank (Norwegian central bank) 2. press conference held in Norges Bank to declare the decision for raising interest rate STORYLINE: Norway's central bank, Norges Bank, has decided to raise the policy interest rate by 0.5 percentage points to 3.75 percent following markedly high inflation in Norway. "(Norges Bank's Monetary Policy and Financial Stability Committee) judges that a higher policy rate than previously signaled is needed to bring inflation down to target," the Norwegian central bank said in a statement on Thursday. "Inflation has been markedly higher than projected in the March Report. International interest rates have risen more than anticipated. Higher wage growth and a weaker (Norwegian) krone than projected earlier will push up inflation ahead," read the statement. In Norway, prices have increased for a range of g

Campaigning begins for Japan's Oct. 31 general election

Campaigning for Japan's Oct. 31 general election began Tuesday, with new Prime Minister Fumio Kishida seeking a mandate for his COVID-19 and economic policies while opposition parties are banding together in a bid to loosen the ruling coalition's grip on power. Kishida, who took office on Oct. 4, has pledged to realize economic growth and redistribute wealth to the middle class in a course correction of "Abenomics," which has been criticized as helping lift corporate earnings and share prices but failing to spark wage gains. A stimulus package worth "tens of trillions of yen" to deal with the coronavirus pandemic will be drawn up within the year, he has said. As well as being a gauge of confidence in Kishida, a 64-year-old former foreign minister, the vote will be a referendum on nearly nine years of LDP governance under his predecessors Shinzo Abe and Yoshihide Suga.

Japan economy shrinks annualized 1.4% in Oct.-Dec.

Japan economy shrinks annualized 1.4% in Oct.-Dec.

Economic and Fiscal Policy Minister Nobuteru Ishihara attends a press conference in Tokyo on Feb. 15, 2016, after the government announced that the Japanese economy shrank an annualized 1.4 percent in the October-December period in real terms following an expansion in the previous quarter. Ishihara showed willingness to achieve steady wage growth to recover consumption. (Kyodo) ==Kyodo

Keidanren seeking annual wage increases at 2016 negotiations

Keidanren seeking annual wage increases at 2016 negotiations

Yasumi Kudo, vice chairman of the Japan Business Federation, known as Keidanren, briefs reporters on Keidanren's report used as guidance for member companies' wage talks with employees during a press conference in Tokyo on Jan. 19, 2015. The report called the companies to consider annual income growth for workers at the wage talks. (Kyodo) ==Kyodo

Abe calls for pay hikes for 5th year as wage growth remains tepid

Abe calls for pay hikes for 5th year as wage growth remains tepid

Japanese Prime Minister Shinzo Abe addresses a meeting of the Council on Economic and Financial Policy at the prime minister's office in Tokyo on Oct. 26, 2017. Abe called for pay hikes through negotiations between management and labor unions next spring, making such a request for the fifth straight year to inject fresh momentum into wage growth. (Kyodo) ==Kyodo

OECD urges Japan to promote labor reforms, calls wage growth "muted"

OECD urges Japan to promote labor reforms, calls wage growth "muted"

Angel Gurria (L), director general of the Organization for Economic Cooperation and Development, talks with Japanese Prime Minister Shinzo Abe at the prime minister's office in Tokyo on April 13, 2017. The OECD released the same day its annual economic survey report on Japan. (Kyodo) ==Kyodo

OECD urges Japan to promote labor reforms, calls wage growth "muted"

OECD urges Japan to promote labor reforms, calls wage growth "muted"

Angel Gurria, director general of the Organization for Economic Cooperation and Development, speaks at a news conference at the Japan National Press Club in Tokyo on April 13, 2017. The OECD released the same day its annual economic survey report on Japan. (Kyodo) ==Kyodo

OECD urges Japan to promote labor reforms, calls wage growth "muted"

OECD urges Japan to promote labor reforms, calls wage growth "muted"

Angel Gurria, director general of the Organization for Economic Cooperation and Development, speaks at a news conference at the Japan National Press Club in Tokyo on April 13, 2017. The OECD released the same day its annual economic survey report on Japan. (Kyodo) ==Kyodo