Japan Economics Focus Rental growth will continue to lag income growth While faster wage growth should eventually result in a significant pick-up in rental inflation, it seems likely that rental growth will trail income growth for the foreseeable future. That means that... 5th August 2024 · 9 mins read
Japan Economics Weekly Bank of Japan encouraged by pick-up in consumption A rebound in retail sales likely underpinned the Bank of Japan's decision to raise interest rates this week. Measures by the government, including tax cuts and electricity and gas subsidies, should... 2nd August 2024 · 5 mins read
Japan Rapid Response Japan Labour Market (June) The conundrum of low unemployment despite falling job openings continued in June and we expect the labour market to keep treading water over coming months. 30th July 2024 · 1 min read
Japan Economics Weekly Services inflation slowing but broadening The data released this week on balance increase the risk that the Bank of Japan leaves interest rates unchanged next week. While household disposable income jumped in Q1, that reflected a one-off... 26th July 2024 · 4 mins read
Australia & New Zealand Economics Weekly Antipodean central banks to part ways on policy A new survey of businesses shows that New Zealand's retail industry is in dire straits. Given the sizeable contribution of retail trade to employment, the risk is that the labour market will... 26th July 2024 · 5 mins read
Japan Chart Pack Japan Chart Pack (Jul. 2024) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. Following a wobbly period around the turn of the year, the economy is on the mend and should gather... 25th July 2024 · 1 min read
Japan Economics Weekly Additional semiconductor curbs won’t cripple exports Japan's government seems to have intervened in the foreign exchange markets to strengthen the yen yet again last week and we think that the chances of a sustained rebound in the yen are rising... 19th July 2024 · 4 mins read
Japan Rapid Response Japan External Trade (June 2024) While the widening of the trade deficit in June points to a sizeable drag from net exports on Q2 GDP growth, activity should still have rebounded last quarter. 18th July 2024 · 1 min read
Australia & New Zealand Chart Pack Australia & New Zealand Chart Pack (Jul 2024) The latest data indicate that capacity pressures have continued to ease, a trend that should continue over the coming quarters. However, it will be a while before policymakers can be confident that... 15th July 2024 · 1 min read
Australia & New Zealand Economics Weekly Despite some snags, inflation will cool in earnest Administered price inflation is looking to be somewhat sticky in Australia, reflecting a combination of tax increases on select goods and elevated cost pressures across a range of public services. On... 12th July 2024 · 5 mins read
Japan Economics Weekly Bank of Japan will hike rates to 0.5% by year-end The persistent strength in producer prices of manufactured goods means that underlying inflation will probably settle around the Bank of Japan's 2% target over the second half of the year rather than... 12th July 2024 · 5 mins read
Japan Economics Weekly Budget deficit set to keep narrowing Our analysis suggests that Japan's budget deficit is narrowing much more quickly than most were anticipating. That underpins our view that the ratio of public debt to GDP should return to pre-virus... 5th July 2024 · 4 mins read
Japan Economics Weekly Rebound in underlying inflation points to July rate hike The yen weakened to multi-decade lows against the dollar this week and the Bank of Japan is getting increasingly worried that rising import costs are creating upside risks to inflation. Indeed, the... 28th June 2024 · 5 mins read
Australia & New Zealand Economic Outlook RBA won’t cut interest rates until mid-2025 Activity has slowed to a standstill in both countries. Although output growth should gather momentum going forward, it will remain below its pre-pandemic average. However, with underlying inflation... 26th June 2024 · 20 mins read
Japan Economics Weekly Concerns over weaker yen will prompt July rate hike The Bank of Japan is concerned that the weak yen will result in a renewed acceleration in non-energy goods inflation and we think that the slide of the exchange rate to multi-decade lows this week... 21st June 2024 · 4 mins read
