Japan Inflation Rises Above BOJ Target Level, Backing Rate Hikes
Japan’s key price gauge rose above the Bank of Japan’s target level for the first time this year, supporting the case for a widely expected BOJ interest rate hike in December.
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Japan’s key price gauge rose above the Bank of Japan’s target level for the first time this year, supporting the case for a widely expected BOJ interest rate hike in December.
Plus, the Chancellor rules out increasing capital gains tax in the budget
New Zealand inflation likely eased slightly in the third quarter, but the respite is set to be short-lived as a weaker currency and surging oil prices drive an acceleration in the final three months of the year, building the case for rate hikes.
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While inflation numbers might not be disastrous, they’re still disappointing and moving in the wrong direction. Bloomberg Opinion columnist John Authers explains where this leaves the US, and if it will lead to any more rate hikes from the Fed. (Source: Bloomberg)
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Yields in the US and other advanced economies have climbed to multidecade highs, tightening financial conditions, amid higher inflation triggered by the US-Iran war and concern about budget shortfalls. Traders have responded by paring rate-hike expectations, with the amount priced into swaps across eight major economies falling by almost 200 basis points since mid-September, according to data compiled by Bloomberg. Ed Yardeni, President at Yardeni Research, discusses his S&P call and why he believes rates are 'back to normal' and not 'higher for longer.' (Source: Bloomberg)
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