Many Bank of Japan policymakers saw stronger wage growth as key to sustaining the bank’s 2% inflation goal. One board member said sharp yen falls could hurt the economy. The BOJ stuck to its ultra-low interest rate policy and vowed to defend its cap on the 10-year bond yield. Many Bank of Japan (BOJ) policymakers … Read more
Motor vehicle purchases declined amid rampant shortages, and record high gasoline prices pulled spending away from other goods. Data for April was revised lower to show sales increasing 0.7% instead of 0.9% as previously reported. Weak retail sales did not divert the Federal Reserve from its aggressive monetary policy tightening path. Sales at service stations … Read more
Canadian consumers and businesses expect inflation to creep up in the short term. But longer-term expectations remain anchored, says Parliamentary Budget Officer Yves Giroux. Inflation is still expected to return to target in coming years, according to Canada’s budgetary watchdog. Canadian consumer prices rising at fastest pace in 31 years. Costs in Canada are ascending … Read more
