BOJ’s Kuroda says no change to economic outlook after wages revision

February 5, 2019

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday there was no change to the central bank’s assessment of the economy after polling errors forced the labor ministry to revise monthly wages data.

Kuroda, speaking at the lower house budget committee, said the BOJ had to recalculate corporate services prices and the output gap due to the revision in wages data but the impact was limited.

Last month the labor ministry said monthly wage data it published for more than a decade, employing faulty polling methods, did not accurately depict the nationwide wage trend.

The labor ministry is expected to recalculate data this week to show real wages from January to November 2018 fell from the same period a year ago, denting policymakers hopes for sustained inflation.

(Reporting by Stanley White; Editing by Chris Gallagher)