Every week we expect many interesting events that can shake the market.
Japan’s PM Abe urges companies to lift wages by 3% or even more
On Tuesday, Japanese Prime Minister Shinzo Abe urged companies to have wages lifted by 3% or even more in 2018, thus keeping up pressure on companies to spend their enormous cash pile on wages for the purpose of broadening the benefits of his "Abenomics" stimulus policies.
Abe told that the government needs to sustain and strengthen the country’s positive economic cycle in 2018 just to achieve their long-standing objective of taming deflation. Exactly to reach this goal he asked Japanese companies to lift wages by 3% or even more next spring.
According to government data, wages at big companies have been going up moderately more than 2% every year since 2014, and a leap of 3% or more in 2018 would help the Bank of Japan to meet its 2% inflation objective.
As BOJ Governor Haruhiko Kuroda told, Japanese companies were still hesitant to have wages lifted due to the fact they were used to prioritizing job security over wage lifts for 15 years of deflation.
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As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.