For those not celebrating Thanksgiving, and for those who are but just can’t stayaway from markets (can relate!), it’s a heavy data day from Japan. The focus is on the CPI from Tokyo (more on this below).
The Bank of Japan next meet on December 18 and 19. Developments in inflation data will be keenly eyed. The policy board is still tossing up a rate hike at that meeting, or not. Latest:
BOJ’s Noguchi: Further yen declines could impact underlying inflationBOJ’s Noguchi: Japan making steady progress in meeting inflation targetRecap – BoJ’s Noguchi tempers December hike bets, urges measured, step-by-step tighteninginvestingLive Asia-Pacific FX news wrap: AUD up (high CPI), NZD up (rate cut), JPY up (BoJ
The screenshot is from the investingLive economic data calendar.
The times in the left-most column are GMT.The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
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Tokyo area November inflation data is expected to remain fairly steady from October, just nudging down by a tenth of a precent mainly. .
National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.Tokyo CPI is a sub-index of the national CPIIt measures the change in prices of goods and services in the Tokyo metropolitan areaIts considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hubHistorically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for example
I have posted the above info before, doing so again ICYMI.
This article was written by Eamonn Sheridan at investinglive.com.