RBA's Debelle: Low levels of bond yields difficult to explain

Bloomberg is reporting - via Kyodo news - that Toyota is set to raise base wage by a record 4K yen/ month. The news should be seen as a positive macro development for the interest of the Yen bulls, as it may potentially contribute to push up inflationary pressure in the economy, thus less reliance on BoJ aggressive expansionary polices to achieve CPI targets. However, there is still a lot of other factors in play, including the depressed energy prices, a major drag for such objectives.