LONDON : Japan's central bank looks set to raise its inflation forecasts and debate further policy tweaks, just as business leaders and policymakers descend on the Swiss resort of Davos to put the world to rights.
The benchmark yield soared as high as 0.54 per cent on Friday, punching through the 0.5 per cent ceiling for the first time after butting against it in previous sessions. A media report that officials will examine the bond market distortions from massive BOJ stimulus appears to have been the final straw. The yen hit a fresh seven-month peak.
Also looming is the first anniversary of Russia's war in Ukraine, which has rocked a global economy still reeling from the fallout of COVID-19. Economists expect a 0.5 per cent decline in December's number, due out on Jan. 18, after a 0.6 per cent decrease in November. Just as much focus will be on the two billion journeys expected to carry passengers to their hometowns to celebrate. Mainland markets close for the following week, but holiday anecdotes on willingness to travel, spend and mingle might guide their expectations about how the reopening will unfold.5/ GLOBAL INFLATION
Source: News Formal (newsformal.com)
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