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The overall percentage of Japan’s households expecting inflation to step up has hit an almost two-year maximum, as a major bank poll disclosed, giving some hope that economic revival will help the BOJ to meet its elusive 2% price objective.
However, more households complained about being worse off than in 2016 because soaring prices made them spur spending, as the survey disclosed, thus underscoring the challenge policymakers face in stimulating inflation without affecting consumption.
The BOJ's poll on customers’ livelihood revealed that the percentage of households, expecting prices to edge up a year from 2018, hit 75.6% in December, adding from 70.4% in September and demonstrating the highest outcome since March 2016.
Among the polled Japanese households, approximately 81.9% told they actually expect inflation to pick up five years from 2018, moderately from 81.4% in September.
It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.
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On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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