The Bank has been an  2  BIS central bankers’ speeches  active member of the Alliance for Financial Inclusion (AFI), a global member-based network which provides an international platform for policymakers in developing countries to learn and share knowledge towards enhancing access to basic financial services for their unbanked and under-banked populace.
The first point is that the pace of improvement in wages has remained only moderate despite the tightening of labor market conditions. This is likely to be attributable to a certain degree to the structure of Japan’s labor market, in which the wage-setting mechanism between full-time and part-time employees is different.