Japan grapples with a pivotal moment as its key inflation measure shows the first acceleration in four months, hinting at potential inflationary pressures. Simultaneously, the nation faces a persistent downturn in factory activity, marking the sixth consecutive month of contraction, intensifying speculation about the Bank of Japan’s imminent pivot away from NIRP (Negative Interest Rate Policy).
Japan's key inflation measure accelerated for the first time in four months…
The Bank of Japan is in a corner.
— Gold Telegraph ⚡ (@GoldTelegraph_) November 24, 2023
The annual inflation rate in Japan rose to 3.3% in October 2023 from 3.0% in the prior month, pointing to the highest reading since July. pic.twitter.com/kyz9JmpoxE
— Win Smart, CFA (@WinfieldSmart) November 24, 2023
The end of the NIRP is near! $FXY $EWZ pic.twitter.com/6pZJa1tMob
— The Macro Guy (@SagarSinghSetia) November 24, 2023
🇯🇵 Japanese #inflation picks up as #BOJ pivot bets grow – Reutershttps://t.co/qxPXuiUFta pic.twitter.com/5V92mXc38D
— Christophe Barraud🛢🐳 (@C_Barraud) November 24, 2023
🇯🇵 #Japan's factory activity shrinks for 6th month on weak demand – PMI – Reutershttps://t.co/WbIuzLcnPX
— Christophe Barraud🛢🐳 (@C_Barraud) November 24, 2023
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