Japanese companies have markedly slowed the pace of wage growth in one of the worst blows to hit the Abenomics stimulus since it was launched in 2012.
As results of the annual “spring offensive” on wages poured in from across the manufacturing sector, many companies offered pay rises half the size of last year, and far below the pace needed to drive inflation to 2 per cent.
The results are a double blow to Shinzo Abe, prime minister, and the Bank of Japan. Lower wage rises not only mean less cash to fuel consumption, they cast doubt on the credibility of the BoJ.
您已阅读19%（567字），剩余81%（2396字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。