Japan's Wholesale Inflation Eases Slightly, BOJ Hike Still Possible
Japan's wholesale inflation eased slightly to 7.2%, undershooting expectations, yet it remains high enough to bolster the odds of a Bank of Japan interest rate hike in September. Rising long-term yields could also support the yen.
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Zaman: Rise in Japanese Long Yields Could Support Yen
Bloomberg has learned Japanese Prime Minister Sanae Takaichi's government is supportive of a near-term rate hike by the Bank of Japan, with the next move likely either in September or October. This is after the yen edged closer to the key 160-per-dollar level. Mahjabeen Zaman, ANZ’s Head of FX Research spoke to Bloomberg’s Abeer Abu Omar on the efforts to shore up the currency. (Source: Bloomberg)
Read full article →Japan wholesale inflation eases slightly to 7.2%, undershooting expectations
The PPI reading was lower than the 7.4% expected by economists polled by Reuters, and was down from a revised 7.3% seen in June.
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