0254 GMT - The Bank of Japan is likely to keep raising interest rates to 1% if the results of annual wage talks due mid-March come out as strong as last year, says Mizuho Securities economist Ryosuke Katagi. Japanese companies gave employees an average raise of 5.1% in 2024, according to the Japanese Trade Union Confederation. Katagi had previously expected 4.8% wage growth at this year's negotiations but says the final result could exceed that forecast going by recent surveys. "Labor unions' demand for wage increases have become stronger than last year, and companies have also maintained a positive stance toward pay hikes," he adds.(megumi.fujikawa@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 21:54 ET (02:54 GMT)
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