Month: December 2022

BOJ

BOJ Considering Raising Inflation Forecasts to Near 2% Target -Nikkei

December 31, 2022

The Bank of Japan (BOJ) is considering raising its inflation forecasts in January to show price growth close to its 2% target in fiscal 2023 and 2024, Nikkei reported on Saturday.The BOJ jolted markets this month by widening its 10-year yield cap range, a move officially aimed at straightening out bond market distortions but seen […]

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Modi's Popularity

Analysis-Modi’s Popularity Key to Selling cut in Food Aid Ahead of Indian Elections

December 29, 2022

Indian Prime Minister Narendra Modi’s move to effectively halve food rations to the poor ahead of state polls next year and a general election in 2024 is fiscally sound, but politically much depends on whether the charismatic leader can sell it to voters. Subsidised food and other items are key to winning elections in India, […]

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raising wages

Japan to Make Raising Wages a Top Priority, Says Senior Govt official

December 28, 2022

Japan’s government will make raising wages a top priority in its economic policy next year, Deputy Chief Cabinet Secretary Seiji Kihara said on Wednesday. “The biggest challenge for Japan’s economy is a lack of wage growth. Unless wages rise, consumption won’t pick up and companies won’t increase investment,” Kihara said, speaking during a television programme. […]

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Toyota's

Toyota’s Nov Global Vehicle Production Rises 1.5% to Record 833,104

December 26, 2022

Toyota Motor (NYSE:TM) Corp reported on Monday a 1.5% rise in November global vehicle output, reaching a new record of 833,104. domestic production slid 3.3% to 266,174 vehicles, while overseas output rose 3.8% to an all-time high of 566,930 for the month. Global sales and production in November exceeded last year’s levels due to solid […]

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Dollar retreats

Dollar Retreats After Overnight Gains, Ahead of Economic Data Dump

December 23, 2022

The U.S. dollar slipped lower in early European trade Friday, handing back some of the previous session’s gains as traders attempt to gauge the Federal Reserve’s likely tightening path in the new year. At 02:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.2% to […]

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Chile fires

Major Fire Hits Chilean Port, Codelco Operations Unaffected

December 23, 2022

A major fire broke out at Chile’s Ventanas port near a refinery and smelter belonging to state-run miner Codelco, but the company said on Thursday operations have not been affected. Meanwhile, a separate forest fire south of Ventanas near the coastal tourist city of Viña del Mar raged, killing at least two people while destroying […]

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Oil Extends Rally

Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays

December 22, 2022

Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases […]

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Asia FX

Asia FX Weakens as Dollar Steadies from BOJ Shock, Yen Slips

December 21, 2022

Most Asian currencies fell on Wednesday as the dollar steadied from a sharp tumble against the yen, while the Japanese currency retreated slightly from a four-month high as markets digested a surprise policy shift by the Bank of Japan. The yen fell 0.3% to 132.06 against the dollar, after rallying over 3% in the prior […]

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Asia FX slips

Japanese Yen Rallies to 4-month High on BoJ Policy Tweak, Asia FX Slips

December 20, 2022

Most Asian currencies fell slightly on Tuesday as fears of a potential recession persisted, while the Japanese yen rallied past its peers after the Bank of Japan tweaked its ultra-dovish policy, drumming up hopes for an eventual pivot. The yen jumped 2.7% to 133.14 – its strongest level against the dollar in four months. The […]

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Asia FX muted

Asia FX Muted, yen Supported By Bets on Eventual BoJ Pivot

December 19, 2022

Most Asian currencies moved little on Monday as fears of a potential recession and rising COVID-19 cases in China weighed on sentiment, while the Japanese yen gained on bets that the Bank of Japan (BoJ) could eventually tighten policy amid rising inflationary pressures. The yen rose 0.4% to 136.18 against the dollar after a report […]

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