The Bank of Japan (BoJ) is grappling with the challenge of achieving its inflation target amidst economic uncertainties. In a recent speech, BoJ Governor Kazuo Ueda acknowledged the gradual progress being made towards the target but emphasized the need for sustained improvement. This article delves into the obstacles faced by the central bank and examines
The holiday shopping period is a critical time for retailers, as consumers eagerly search for the best deals and bargains to make their purchases. In the United States, retail sales between November 1 and December 24 rose by 3.1%, according to a recent report by Mastercard. However, this growth rate fell short of both Mastercard’s
The U.S. Dollar Index (DXY) is currently under pressure as traders remain focused on the Federal Reserve’s policy outlook. If the index settles below the key level of 101.50, it is likely to head towards the support zone between 100.50 and 100.80. The uncertain Fed policy has contributed to the weakening of the U.S. dollar,
The recent data on the housing market reveals a continued recovery, as annual home prices in October experienced a rise. This growth is a positive indicator for the overall health of the housing market. The Federal Housing Finance Agency (FHFA) report showed that home prices grew by 6.3% on a yearly basis, surpassing the previous
The dollar is currently facing instability due to signs of cooling inflation in the U.S. economy. This has led to expectations that the Federal Reserve might ease interest rates in the coming year. The dollar index is hovering near a five-month low, highlighting the market’s response to changing economic indicators. In the Treasury market, yields
Inflation, while reduced from its peak in 2022, still remains higher than the desired 2% target set by central banks in developed economies worldwide. This situation is a cause for concern as it indicates sustained high prices for goods and services, resulting in a prolonged wage/price spiral. The process of inflation returning to acceptable levels
Ethiopia’s financial woes continue to deepen as it becomes the third African nation to default on its international government bond in three years. The country failed to make a $33 million “coupon” payment, leading to its formal declaration of default. This default comes on the heels of the immense challenges posed by the COVID-19 pandemic
EUR/USD has displayed resilience as it maintains its gains above the 1.0980 level. The pair has formed a key bullish trend line with support near 1.0980 on the 4-hour chart. This indicates the potential for further upside momentum in the near future. Similarly, GBP/USD has been consolidating gains near the 1.2700 level. The pair has
Bank of Japan Governor Kazuo Ueda is facing criticism for his communication style that has been confusing markets and raising concerns about an imminent exit from ultra-loose monetary policy. Former BOJ board member Takako Masai has expressed her dissatisfaction with Ueda’s comments and the impact they have had on market expectations. Ueda’s remarks in parliament
In a bid to maintain price stability amidst the looming threat of dry weather and rising inflation, Philippine President Ferdinand Marcos Jr. has given his approval for the extension of reduced tariffs on rice and other food items until the end of 2024. This decision comes as a response to the current economic conditions and
The recent proposal of gaming rules by China’s National Press and Publication Administration has sent shockwaves through the gaming industry. While these rules aim to regulate and control game play, it is clear that they may have unintended consequences for smaller developers and the overall online advertising revenue. This article examines the potential impact of
The Bank of Japan (BOJ) Governor Kazuo Ueda stated on Monday that the likelihood of achieving the central bank’s inflation target is gradually increasing. This signals a potential change in policy if the prospects of sustainably achieving the 2% target continue to improve. Ueda’s remarks provide the clearest indication to date on the possibility of