The Bank of Japan is set to meet Thursday on interest rates for the first time under new leader Kazuo Ueda, who is likely to maintain a steady monetary policy for now, though all eyes will be on hints that he may move away from the super-easy money policy of his predecessor, writes Alex McMillan.
Yen slides as Ueda set to lead BoJ - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Prices of US goods and services probably climbed last month at a pace that remains discomforting for consumers as well as for Federal Reserve policy makers seeking greater progress in their battle to beat back inflation. The January consumer price index on Tuesday is expected to increase 0.5% from a month earlier, spurred in part by higher gasoline costs. That would mark the biggest gain in three months. Excluding fuels and foods, so-called core prices which better reflect underlying inflation are seen rising 0.4% for a second month. Such gains are consistent with the Fed’s view that, while inflation is moderating from a four-decade high last year, further interest-rate increases will be needed to ensure price pressures are extinguished. Officials will also watch the behavior of core services costs to gauge the impact of a still-tight job market on inflation. Core CPI is seen rising 5.5% from a year ago, which would be the smallest annual gain since late 2021. The c