Japan September Jobless Rate Inches Up to 2.6% As More People Quit for Other Opportunities 
–Unemployment at 2.5% in August, 2.6% from May to July Vs. April’s 2-Year Low 2.5% –More People Quit to Seek Other Openings Vs. August, Last September –Employment Growth Up Sharply Y/Y After Posting 1st Drop in 4 months in July –Number of Unemployed Marks 15th Straight Y/Y Drop; Still Above January 2020 Level By Max […]
Bank of Canada Hikes Key Rate by 50 Bps to 3.75%, Balancing Between Too High Inflation and Slower Demand 
–BOC Governing Council Still Believes Interest Rates Need to Rise Further –BOC: Canadian Economy in Excess Demand, Labor Markets Tight –Governor Macklem: Getting Closer to End of Tightening but Not Over Yet–Macklem: Future Tightening Could Mean Large or Normal Rate Hike By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy […]
Japan September Core CPI Hits 3% on Widespread Markups but BOJ Easing Seen in Place
–High Energy Costs Remain Largest Contributor, Processed Food Catching Up –Core CPI (Ex-Fresh Food) +3.0% Y/Y 31-Year High Excluding 2014, 1997 Sales Tax Hikes Impact–Narrow CPI (Ex-Fresh Food, Energy) +1.8% Y/Y, Close to BOJ’s 2% Inflation Target By Max Sato (MaceNews) – Consumer inflation in Japan continued its relentless upward march in September, reflecting high […]
BOJ September Meeting Summary: Watch for Inflation, Pandemic, Global Recession
By Max Sato (MaceNews) – Bank of Japan board members debated upside risks to inflation without substantial wage growth, which could be made worse by the lingering drag from the pandemic, according to the summary of opinions expressed at the bank’s Sept. 21-22 meeting released Monday. The summary, a preview of the minutes to be […]
Japan August Jobless Rate Eases Slightly to 2.5% as Government Reopens Economy Amid Covid Spike
–Unemployment at 2.6% from May to July Vs. April’s 2-Year Low 2.5% –Job Losses Flat M/M in August While Fewer People Seek Other Openings –Employment Picks Up After Posting 1st Y/Y Drop in 4 months in July –Number of Unemployed Marks 14th Straight Y/Y Drop; Still Above January 2020 Level By Max Sato (MaceNews) – […]
Japan August Industrial Output Rises in Many Sectors on Easing Supply Constraints
–METI Survey Points to Possible Output Dip in September, Solid Gain in October –METI Upgrades View: Output Showing Signs of Moderate Rise Vs. Marking Time –METI Repeats: To Watch Effects of a Rise in Covid Cases, Parts Shortages, Inflation By Max Sato (MaceNews) – Japan’s industrial production surged in August, well above forecasts, as easing […]
Preview: BOJ Tankan Manufacturers’ Sentiment Seen Up in September, Services Down
–End to Covid Lockdown in Shanghai Supports Factory Operations –Downside Risks Arise from Global Slowdown amid Tightening by US, Others –Spike in Japan Covid Cases, High Import Costs Hit Services Sector –Business Confidence in December Projected to Be Mixed –Smaller Firms Expected to Revise Up Their Combined FY22 Capex Plans Further By Max […]
Bank of Canada’s Beaudry: To Take Whatever Actions Needed to Bring Inflation Down to 2% Target
–BOC Deputy Governor Beaudry: Canada’s Aug CPI Eased to 7% Y/Y Rise But Still Too High By Max Sato (MaceNews) – The Bank of Canada’s policymakers will take whatever actions necessary to bring still too high inflation back to its 2% target and maintain people’s confidence in the bank’s price stability mandate, Deputy Governor Paul […]
Japan August Inflation Hits 3-Decade High on Widespread Markups; More Price Hikes Coming
–Utilities Lead Rising Energy Costs; Gasoline Price Rise Slows on Subsidies, Softer Market –Core CPI +2.8% Y/Y Nearly 31-Year High Excluding 2014, 1997 Sales Tax Hikes Impact–Total CPI +3.0% Y/Y Also Nearly 31-Year High, Excluding Booster Effects of Sales Tax Hikes –Even Narrow CPI (Ex-Fresh Food, Energy) Up 1.6% Y/Y, More than 29-Year High By […]
Japan Producer Price Inflation Steadies at Relatively High Pace; Lumber, Steel Prices Ease
–Export, Import Producer Prices Down on Month Amid Slower Global Demand By Max Sato (MaceNews) – Producer inflation in Japan steadied at a relatively high level in August after easing in July to the slowest pace in seven months and hitting a 41-year high in April, as slightly faster year-on-year gains in the costs for […]