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The Bank of Japan may be underestimating the risk of being too late in addressing mounting inflationary pressures from rising service prices and wages, the central bank's former top economist said. The bank on Tuesday raised its inflation forecasts to well above its 2% target for this year and next but said the revisions were largely due to transitory factors, such as more companies passing on higher raw material costs through hikes in goods prices. The BOJ projected inflation would recede below 2% in 2025, when cost-push factors run their course and begin to be replaced more fully by upward pressure from higher wages.
Japan's factory activity contracted for a fifth straight month in October, a survey showed on Wednesday, as subdued demand and inflationary pressures squeezed businesses. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) stood at 48.7 in October, slightly improved from 48.5 in September, but still below the 50.0 point threshold that separates growth from contraction. Subindexes of output and new orders also contracted for a fifth straight month in October.
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This article takes a look at the 16 places to retire for $1,000 a month. If you wish to skip our detailed analysis of global inflation and the cost of living crisis, you may go to 5 Places to Retire for $1,000 a Month. Global Inflation and the Cost of Living Crisis According to the […]
The pound has tumbled to a six-month low against the US dollar as traders predict the end of interest rate rises from the Bank of England and as America’s economy proves remarkably resilient.