An analysis piece from Reuters on the pressures the Bank of Japan is facing to hike rates sooner and higher.
In brief:
- Consumption, wage, service price data key to rate hike timing
- BOJ chief Ueda faced calls to moderate yen falls at govt council
- Political pressure to prod Ueda to keep dropping hawkish signals
On this quiet (so far) Monday this is worth a read for background into:
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Ueda comes across to ma as a bit more 'old school- ie he'll keep rates lower to prompt consumption, and will resist, as best he can, political pressure to raise.
USD/JPY update, getting off to a weakish start:
