Toyota (TM) Agrees on Its Highest Wage Hike in 3 Decades

Toyota Motor Corporation (TM) has agreed to the union’s demand for an increase in wages and bonuses for the fourth consecutive year. This reflects a possible establishment of a sustainable wage-price cycle in Japan, coinciding with interest rate hike consideration by the central bank.The yen strengthened while government bond futures tumbled, indicating traders' anticipation of an imminent action by the Bank of Japan (“BOJ”). This followed initial reports of Toyota reaching an agreement with its unions.Per ...