China’s economy grew 2.9 percent in the fourth quarter of 2022 from a year earlier, National Bureau of Statistics data showed on Tuesday, beating expectations but still underlining the toll exacted by a stringent “zero-COVID” policy.
“According to Chinese media, more than half of the 31 provinces and municipalities that have released 2023 work reports are targeting above 5.5 percent growth for 2023.” Japan’s Nikkei 225 rose 1.28 percent, following two sessions of heavy losses, as the yen’s relentless rise paused on the eve of a crucial Bank of Japan policy decision.The BOJ is under pressure to change its interest rate policy as soon as Wednesday, after the central bank’s attempt to buy itself breathing room backfired, emboldening bond investors to test its resolve.
“The drop in inflation in the U.S. is encouraging, although the fly in the ointment is that this drop is largely coming from energy and goods prices,” the report said.
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