Japan's July wage growth reaches a 30-year high, strengthening the BOJ's rate hike outlook.

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Japan’s July wage growth reached 4.7% year-over-year, the highest in 30 years, according to ChainThink. Base wages increased by 4.1%, with real wage growth at 2.4%. The data reinforces expectations of a BOJ rate hike. Market participants are also monitoring how CFT measures and MiCA developments could impact global financial policies. Some investors anticipate further tightening from the central bank ahead.

ChainThink reports that, according to Trading Economics, Japan's nominal wages rose 4.7% year-over-year in July, the largest increase since 1997, exceeding June's 4% and marking the sixth consecutive month of growth above 3%.

Real wages, adjusted for inflation, increased by 2.4%, while base wages rose 4.1% year-over-year. Stronger-than-expected economic data further reinforced market expectations of an interest rate hike by the Bank of Japan at its upcoming meeting next week.

Some investors believe that the Bank of Japan's monetary policy may tighten further after a relatively short time interval.

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