The company accepted the union's demands for a monthly wage increase of ¥28,440 ($194) and record bonus payments. The country's other automaker also welcomed the union's demand to raise the average monthly wage by ¥18,000. In the service sector, the airline announced it would give its employees an average 6 percent raise, the highest base pay increase since 1992. A cultural emphasis on job security over high wages is often cited as the main reason for long-standing stagnant wages. Average wage growth is expected to exceed 4 percent this year. According to the labor union, the average salary increase this spring was 3.58 percent. Analysts say the average is expected to be above 4 percent this year, and many large firms are offering strong wage increases. According to the investment bank, employees of large companies can expect an average salary increase of 5.1 percent. The highest wage increases in recent years are paving the way for the central bank to move away from its zero interest rate policy. Annual wage talks, known as the "shunto" (spring wage war), end this month and are being closely watched by policymakers as the developments could be a factor that could influence the central bank's ultra-loose monetary policy. While the central bank has long sought to boost real wages, it has urged governments to create an economy where wages rise faster than prices. This caused wage increases to further increase prices during a period of high inflation. This could lead the central bank to raise interest rates, which could make credit more expensive and lower investment costs.