Japan Economics Weekly Japan Weekly: Strong inflation underpinned by soaring labour costs With the economy growing well above trend and inflation double the Bank of Japan's target, the financial markets are starting to come around to our view that the Bank will lift its policy rate to 1%... 21st February 2025 · 4 mins read
Japan Rapid Response Japan Consumer Prices (Jan. 25) The acceleration in headline inflation and strength in underlying inflation in January should add to the Bank of Japan’s confidence that it can continue its tightening cycle over the coming quarters... 20th February 2025 · 2 mins read
Japan Economics Weekly Japan Weekly: Banks starting to benefit from higher interest rates The 10-year JGB yield rose to a 14-year high this week and we think it will reach 1.75% by the end of the year as the Bank of Japan tightens policy more rapidly than most anticipate. Banks were... 14th February 2025 · 6 mins read
Australia & New Zealand Economics Weekly ANZ Weekly: NZ mulls tax cuts, Australia could gain from trade war Speculation has been growing that the New Zealand government will slash the corporate income tax rate in the upcoming May budget. Given that New Zealand’s corporate tax rate is higher than in most... 14th February 2025 · 6 mins read
Japan Chart Pack Japan Chart Pack (Feb. 2025) With real household incomes rising the most in years and the savings rate rather high, the rebound in consumer spending will continue in 2025. And with the yen set to remain weak for longer and this... 12th February 2025 · 1 min read
Japan Rapid Response Japan Labour Cash Earnings (December 24) Regular earnings growth will hold strong at just under 3% for most of this year Growth in base pay rose the most since 1992 in December, and we think it will continue to hold strong in this year... 4th February 2025 · 2 mins read
Japan Economics Update Japan’s labour market to remain tight despite rate hikes The experience from other advanced economies is that there’s no hard and fast rule for how long it will take for the labour market to loosen in response to rate hikes by the Bank of Japan. But with... 27th January 2025 · 4 mins read
Japan Economics Weekly Japan Weekly: Bank of Japan will lift rates above 1% next year The Bank of Japan signaled further tightening when it lifted its policy rate to 0.5% this week and we expect rates to climb further than most expect over the coming year. Meanwhile, the budget deficit... 24th January 2025 · 5 mins read
Japan Rapid Response Japan Flash PMIs (Jan. 25) The continued rise in the composite PMI to its highest point since Q3 last year supports our view that activity will pick up again this quarter. Today’s flash estimate showed that the manufacturing... 24th January 2025 · 2 mins read
Japan Rapid Response Japan Consumer Prices (Dec. 24) The acceleration in headline inflation and strength in underlying inflation in December should add to the Bank’s confidence that it can resume rate hikes today and over the coming months. In December... 23rd January 2025 · 2 mins read
Japan Economics Weekly Japan Weekly: January rate hike now looking likely A flurry of communication by the Bank of Japan this week suggests that a rate hike at next week's meeting is very likely. And whereas the financial markets foresee just one additional 25bp rate hike... 17th January 2025 · 5 mins read
Australia & New Zealand Chart Pack ANZ Chart Pack (Jan. 2025) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. The Antipodean central banks will tread different paths on policy over the forecast horizon. With the... 16th January 2025 · 1 min read
Australia & New Zealand Economics Weekly ANZ Weekly: RBA’s easing cycle may be inching closer Economic data released this week are likely to reinforce the Reserve Bank of Australia's dovish mood. Indeed, we learnt that underlying inflation is easing in earnest and is likely to undershoot the... 10th January 2025 · 5 mins read
Japan Chart Pack Japan Chart Pack (Jan. 2025) We are resending this publication because the heading of the previous version contained an error. With real household incomes set to fall again this year, the rebound in consumer spending will start... 9th January 2025 · 1 min read
Japan Rapid Response Japan Labour Cash Earnings (November 24) Growth in base pay rose to its highest figure since 1992 in November, and we think that it will continue to hold strong through to this year. According to today’s preliminary estimate, labour cash... 8th January 2025 · 2 mins read
Japan Economics Weekly Japan Weekly: BoJ still signalling room – and desire – to hike further Governor Ueda delivered two messages in the press conference after yesterday’s policy meeting: first, the Bank of Japan thinks that policy normalisation is still on track and it intends to raise rates... 20th December 2024 · 7 mins read
