The yen’s fresh slide to a 34-year low complicates the Bank of Japan’s deliberations on the timing of a next interest rate hike, as a resulting rise in import costs pushes up inflation but also hurts already weak consumption and the broader economy. If that weakness persists and discourages small firms from hiking pay, the … Read more
Japanese 1,000 yen, 5,000 yen and 10,000 yen banknotes arranged in Kyoto, Japan, on Thursday, Nov. 2, 2023. The contradictions in Japan’s efforts to protect the yen while slowing the pace of rising bond yields are becoming increasingly clear in currency and debt markets. Photographer: Kentaro Takahashi/Bloomberg via Getty Images Kentaro Takahashi| Bloomberg | Getty … Read more
But analysts do not expect any direct impact on China as overseas investors are more concerned with the effectiveness of Beijing’s easing measures, which are aimed at supporting sustainable economic growth in the world’s second-largest economy. China’s domestic economy is struggling to get out of first gearHarry Murphy Cruise, Moody’s Analytics The People’s Bank of … Read more
Kazuo Ueda, governor of the Bank of Japan (BOJ), gestures as he speaks during a news conference at the central bank’s headquarters in Tokyo, Japan, on Tuesday, Oct. 31, 2023. Kiyoshi Ota | Bloomberg | Getty Images The Bank of Japan left its ultra-loose monetary policy unchanged at its final policy meeting this year in … Read more
The Japanese people chose ‘tax’ as the word of the year, reflecting rising costs of living and much-discussed tax reforms in the world’s third-largest economy, CNN reported. The ‘kanji’ — the character — for tax topped an annual poll of more than 1,47,000 respondents by the Japan Kanji Aptitude Testing Foundation. The head priest of … Read more
