0456 GMT - JGB yields rise further in the Tokyo afternoon session amid prospects for more Bank of Japan rate increases following Japanese wage data released earlier. The data suggest Japan's underlying base pay growth is poised to quicken, two members of JPMorgan's Economic and Policy Research say in a note. "The solid base pay growth in January suggests that inflationary pressure will remain high, and we expect this trend to continue as wage growth remains robust," the members say. Last week, BOJ Deputy Governor Uchida reiterated the central bank will pursue more rate increases as long as the economy continues to improve and inflation rises in tandem with wage increases. The 10-year JGB yield is up 5 bps at 1.570%, its highest intraday level since October 2008. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 00:56 ET (04:56 GMT)
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