（原标题：《雇主对波黑联邦最低工资的感知——经济后果与挑战》研究报告发布） 关于最低工资上涨对企业运营的具体影响，雇主最认同的表述包括企业将削减今 年投资的计划、企业承担社会责任的活动资金将减少等。同时，超半数雇主（57%）考 虑关闭自己的企业，其中小型企业所有者比例高达66.2%。 关于雇主可接受的最低工资金额，37%表示可接受最低工资为700马克，22.1%表示 可接受800马克，23.2%表示可接受1000马克，仅13.3%认为最低工资可高于1000马克。 报告警示，超过95%的雇主反对当前波黑联邦关于调整最低工资的政策，有57%的 雇主考虑关停企业，这一数据凸显了政策威胁的严重性。研究呼吁政府重新评估最低 工资调整机制，避免对经济生态造成不可逆冲击。（驻波黑使馆经商处） 彭博社亚德里亚分社4月26日报道。近期发布的《雇主对波黑联邦最低工资的感知 ——经济后果与挑战》研究报告显示，雇主强烈认同波黑联邦政府关于提高2025年最 低工资的决定将导致企业裁员、物价上涨、营业额和出口减少、国内外投资缩减以及 企业利润下降等不良影响。这份研究覆盖了881家不同规模企业的雇主，数据具有代表 性和可靠性。 对雇主进行 ...

Core Viewpoint - The Bank of Japan maintains interest rates while lowering economic growth forecasts due to uncertainties surrounding U.S. tariffs, but inflation is expected to remain on track to meet the 2% target, indicating that tariff risks may only delay rather than disrupt the rate hike plans [1] Economic Outlook - The uncertainty surrounding U.S. tariffs has heightened trade policy unpredictability, with expectations that trade negotiations will progress and global supply chains will not face major disruptions [2] - Japan's economy is expected to face downward pressure from tariffs through three channels: slowing global growth, damaging corporate profits, and increased uncertainty leading to delayed spending by households and businesses [2] - Despite these pressures, a gradual recovery in overseas economies is anticipated to alleviate some of the downward pressure over time [2] Inflation and Wage Growth - The Bank of Japan has revised down its growth forecasts for fiscal years 2025 and 2026, indicating a phase of synchronized slowdown in inflation and wage growth, although labor shortages will maintain a positive wage-inflation cycle [2] - The timeline for achieving the inflation target has been pushed back, and the current environment suggests a period of inflation stagnation, making it difficult to assess the likelihood of achieving baseline scenarios [2] - The probability of achieving baseline scenarios has significantly decreased, and developments in tariff situations may alter these scenarios, directly impacting monetary policy decisions [2] Interest Rate Considerations - The timing for the next interest rate hike may not automatically align with the delayed timeline for inflation approaching 2% [3] - The Bank of Japan continues to provide monetary support, albeit with adjustments, as inflation is expected to gradually approach the target within the three-year forecast period [3] - The potential impact of U.S. tariffs on terminal rates is uncertain and may depend on changes in Japan's natural interest rate [3][4] Consumer Resilience - Rising food prices are affecting processed food sectors and suppressing some consumer spending, yet overall consumption trends remain upward [3] - The impact of wage increases on nominal income has not significantly boosted real income due to unexpected food price hikes [4]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, anticipates that real wage growth will support consumer spending, although the impact of wage increases on service prices has not been significant yet [1] Group 1: Wage Growth and Consumer Spending - Real wage growth is expected to bolster consumer spending [1] - The chain reaction of wage increases on service prices has not been substantial [1] Group 2: Tariffs and Economic Impact - It is currently difficult to determine whether tariffs will affect the neutral interest rate level [1] - Tariffs have a negative impact on resource allocation efficiency [1]

日本央行行长植田和男：工资增长尚未导致服务价格强劲上涨。 ...

日本央行行长植田和男：工资持续上涨，但涨幅尚不足以传导至服务价格。工资与物价的良性循环在一 定程度上正在发挥作用。 ...

日本央行行长植田和男：工资和物价上涨周期的假设受到去年年中以来意外食品价格上涨的影响。 ...

Core Insights - The Governor of the Bank of Japan, Kazuo Ueda, indicated that there remains uncertainty regarding winter bonuses and the spring wage negotiations for the following year [1] - It is expected that the rise in food prices will gradually stabilize [1] Group 1 - Uncertainty exists in the context of winter bonuses and upcoming wage negotiations [1] - Anticipation of stabilization in food price increases [1]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, stated that there is no need to wait for the winter bonus distribution or the spring wage negotiations to make any decisions [1] Group 1 - The Bank of Japan is prepared to make decisions independently of seasonal economic factors such as bonuses and wage negotiations [1]

日本央行行长植田和男：由于劳动力短缺持续，工资与物价的良性循环将得以继续。 ...

日本央行行长植田和男：由于关税措施和经济增长放缓，通胀率和工资增长预计将放缓。 ...