Japan CPI inflation eases as expected in Nov; early BOJ pivot in question
Japan’s core consumer price index inflation eased as expected in November amid softening food prices, with the reading casting more doubts over when the Bank of Japan could potentially begin tightening its ultra-loose policy. Core CPI inflation, which excludes volatile fresh food prices, rose 2.5% year-on-year, data from the Statistics Bureau showed on…
Oil prices sink on Israel-Hamas ceasefire talks, US inventory build
Oil prices fell in Asian trade on Thursday as momentum in a recent rally was culled by data showing an unexpected build in U.S. inventories, while talks over a potential ceasefire in the Israel-Hamas war dented bets on more supply disruptions. Media reports showed Hamas leader Ismail Haniyeh in Egypt for potential peace…
China keeps loan prime rate steady at record lows
The People’s Bank of China kept its benchmark loan prime rate unchanged at record lows on Wednesday, with monetary conditions set to remain loose for longer as China struggles with slowing economic growth. The PBOC left its one-year LPR at 3.45%, while the five-year LPR, which is used to determine mortgage rates, was…
Oil prices inch higher after Red Sea attacks trigger sharp gains
Oil prices rose slightly in Asian trade on Tuesday after rebounding sharply from near six-month lows, as traders sought to gauge just how disruptive an ongoing conflict in the Red Sea will be for supplies. Missile and drone attacks on several vessels in the region- which were attributed to the Yemeni Houthi group-…
Japan business lobby head: BOJ must normalise monetary policy as soon as possible
Japan business lobby Keidanren chief Masakazu Tokura said on Monday the Bank of Japan must normalise monetary policy as early as possible, amid speculation the central bank could shift away from more than a decade of stimulus policy in the coming months. Speaking on the first day of the BOJ’s two-day policy setting…
Fed keeps rates steady, but sees more rate cuts for 2024
The Federal Reserve kept interest rates steady on Wednesday for the third straight meeting, and signaled deeper cuts for next year as inflation is expected to cool faster than initially anticipated. The Federal Open Market Committee, or FOMC, kept its benchmark rate at a more than two-decade high range of 5.25% to 5.50%.…
U.S. inflation slows to 3.1% in November
The U.S. inflation rate slowed slightly on a yearly basis as expected in November, in a key release that will likely factor into how Federal Reserve officials see interest rates evolving next year. Annual headline consumer price growth edged down to 3.1% last month, decelerating from 3.2% in October, according to data from…
Asia FX falls, yuan battered by China disinflation jitters; Dollar steady
Most Asian currencies fell on Monday, with the Chinese yuan among the worst performers after data pointed to a sustained deflationary trend in the country, while the dollar steadied in anticipation of a Federal Reserve meeting. The greenback saw some strength on Friday after a stronger-than-expected nonfarm payrolls reading, which dented expectations for…
Japan’s Q3 GDP falls faster than first estimates as consumption sags
TOKYO (Reuters) -Japan’s economy fell faster than first estimated in the third quarter, revised data showed on Friday, as the household sector faced growing headwinds, complicating the central bank’s efforts to phase out its accommodative monetary policy. Consumer and business spending both shrank, driving down third-quarter gross domestic product (GDP). Separate data showed…
Asian stocks sink on China weakness, Nikkei slides as BOJ talks pivot
Most Asian stocks fell on Thursday as persistent concerns over a Chinese economic slowdown kept sentiment dull, while Japanese stocks fell sharply as Bank of Japan Governor Kazuo Ueda discussed options for a potential pivot from negative interest rates. Investors were also awaiting key U.S. labor market readings to gauge when the Federal…
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