Japanese salary growth in March slowed more than expected, causing the Bank of Japan to possibly adopt a more cautious pace for raising interest rates.

Wisdom Financial APP learned that the nominal wage growth in Japan in March slowed more than expected, providing support for the Bank of Japan to be cautious about raising interest rates amidst continued domestic and international economic risks. Data released by the Japanese Ministry of Health, Labour and Welfare on Friday showed that nominal cash income in March grew by 2.1% year-on-year, lower than the revised 2.7% in February, and also lower than the economists' median forecast of 2.5%; real wage income in March fell by 2.1% year-on-year, further widening from the 1.2% decline in February, indicating a continued decrease in consumer purchasing power.