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Wall Street Journal
6 minutes ago
- Wall Street Journal
Japan's Inflation Stays Well Above BOJ's 2% Target
Japan's consumer inflation remained well above the central bank's target of 2% in July, reinforcing expectations of a coming interest-rate increase. Consumer inflation excluding volatile fresh food prices climbed 3.1% from a year earlier last month, compared with June's 3.3% rise, government data showed Friday. That was higher than the 3.0% increase expected in a poll of economists by data provider Quick.


Bloomberg
7 minutes ago
- Bloomberg
Japan's Inflation Hovers Well Above BOJ's Goal Even as It Slows
The pace of Japan's consumer inflation stayed well above the Bank of Japan's target even as price growth moderated, supporting market speculation that the central bank will hike its benchmark interest rate again this year. Consumer prices excluding fresh food rose 3.1% from a year earlier in July, slowing from a 3.3% gain in the previous month, the Ministry of Internal Affairs and Communications reported Friday. The median estimate of economists was for a gain of 3%, with expectations there would be a drag from energy prices after they spiked a year earlier.


CNBC
8 minutes ago
- CNBC
Asia-Pacific markets set to rise as investors look ahead to U.S. Fed chair Powell's speech
Asia-Pacific markets were set to mostly climb Friday as investors look to U.S. Federal Reserve Chair Jerome Powell's speech at the central bank's annual economic symposium, which could offer clues into the path of interest rates. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 42,700 while its counterpart in Osaka last traded at 42,640, against the index's last close of 42,610.17. Futures for Hong Kong's Hang Seng index stood at 25,192, higher than its last close of 25,104.61. Australia's benchmark S&P/ASX 200 is set to fall with futures standing at 8,971, lower than the index's close of 9,019.1. The index crossed the 9,000 mark for the first time Thursday. Overnight stateside, stocks fell broadly Thursday, with the S&P 500 sliding for the fifth day in a row. The broad-market index shed 0.4% and closed at 6,370.17, while the Nasdaq Composite slid 0.34% and settled at 21,100.31. The Dow Jones Industrial Average fell 152.81 points, or 0.34%, ending at 44,785.50. Fed funds futures are pricing in a nearly 74% likelihood of the central bank cutting rates at its next policy gathering in September, according to CME's FedWatch tool.