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Elevating stagnant wages is Tokyo’s top priority and anti-deflation tool, necessary in creating a virtuous cycle of rising prices and incomes that boosts economic growth.
Near-stagnation in wages is difficult to reconcile with reports of a very tight labour market in which firms struggle to hire. The answer lies partly in much higher levels of…
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DOI: 10.1108/OXAN-DB285105
ISSN: 2633-304X
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KENYA: Ruto may deliver painful wage bill reform
Behind this workforce expansion is higher immigration that has allowed considerably more new jobs without raising real wages. Immigration explains some of the strength in…
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DOI: 10.1108/OXAN-DB286716
ISSN: 2633-304X
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EU: ECB policy rests on wage growth continuing to slow
Disinflation is underway on both sides of the North Atlantic, but it is not yet deeply entrenched, giving both central banks a reason to delay cuts. The ECB must contend with…
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DOI: 10.1108/OXAN-DB285238
ISSN: 2633-304X
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The primary surplus (0.6% of GDP) was driven by a 35% real fall in primary spending, which offset a recession-induced 4.5% drop in revenues. Month-on-month inflation has also…
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DOI: 10.1108/OXAN-DB286714
ISSN: 2633-304X
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INTERNATIONAL: Solid services may drive wage inflation
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DOI: 10.1108/OXAN-ES285661
ISSN: 2633-304X
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The government has posted the first fiscal surplus in years, inflation has declined and foreign currency reserves have risen from USD21.0bn in mid-December to USD28.5bn. However…
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DOI: 10.1108/OXAN-DB285892
ISSN: 2633-304X
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Geographic
Topical
Government measures to boost the economy, including tax cuts in November, are having little effect. There is little scope for further stimulus in the March budget. Political…