Tag Archives: Bank of Japan Governor

BOJ Governor: Rate Hikes Linked to Inflation & Growth

BOJ Governor: Rate Hikes Linked to Inflation & Growth: Bank of Japan Governor Kazuo Ueda stated
Thursday morning the central bank is prepared to raise interest rates
if consumer price inflation data improves alongside better economic conditions.

 

Content

Bank of Japan Governor

UK GDP Grows

Inflation in Russia

 

 

 

Bank of Japan Governor

Governor Ueda emphasized that monetary policy decisions will depend on developments in economic conditions,
price levels, and prevailing financial circumstances.
He added that expectations for the new U.S. administration’s policies
and the outcomes of domestic wage negotiations will be critical factors in decision-making.

Furthermore, he revealed that the Bank of Japan will discuss
the possibility of raising interest rates during its meeting next week.

According to sources familiar with the matter,
these statements follow a Bloomberg report suggesting that the Bank of Japan might soon increase interest rates.

 

UK GDP Grows Below Expectations in November

The UK Office for National Statistics released data showing that the country’s real GDP grew by 0.1% in November,
falling short of market expectations of 0.2%. This follows a contraction of 0.1% in October.

Meanwhile, UK manufacturing output shrank by 1.5% in November,
significantly worse than the forecasted 0.2% contraction after a 0.6% decline in October.

These figures indicate persistent pressures on the UK economy,
with the manufacturing sector, in particular,
suffering from declining activity amid growing economic challenges.


Inflation in Russia Surges to 9.5% in 2024 Amid War Costs and Government Spending

Russia’s inflation rate climbed to 9.5% in 2024, up from 7.4% the previous year,
according to data from the Russian Federal Statistics Service, Rosstat.
This increase comes as the costs of the war in Ukraine weigh heavily on the Russian economy.

Despite the Russian central bank raising interest rates to 21%,
the highest level in two decades, inflation remains uncontrolled.

Food prices rose 11.4% over the past year, driven by record-high government spending to finance the war.
While this spending has supported the economy and staved off a recession,
it has also led to labor shortages and rapid price increases.
Notably, this marks the fourth consecutive year inflation exceeded Moscow’s target of 4%.

 

BOJ Governor: Rate Hikes Linked to Inflation & Growth

UK House Prices See Fastest Growth Since February 2023

UK House Prices See Fastest Growth Since February 2023: UK house prices rose by 3.3% year-on-year in November,
marking the fastest growth rate since February 2023, according to the Office for National Statistics.
The average house price reached £290,000 ($354,600), while the average price in England rose by 3% annually to £306,000.

 

Content

UK House Prices
Eurozone Industrial Output Shrinks 

Bank of Japan Governor

 

 

 

 

UK House Prices Record Highest Annual Growth Rate Since February 2023

UK house prices increased by 3.3% year-on-year in November, recording the fastest annual growth since February 2023,
according to the Office for National Statistics.
The average house price reached £290,000 ($354,600); in England, it rose 3% year-on-year to £306,000.

This growth persists despite higher borrowing costs, reflecting the resilience of the UK housing market.
However, these figures challenge the Bank of England in shaping monetary policy,
notably as annual inflation slowed to 2.5% in December, down from 2.6% in November.

 

Eurozone Industrial Output Shrinks Further in November Amid Declines in Capital and Intermediate Goods Sectors

Data released by Eurostat on Wednesday showed that industrial output in the Eurozone contracted by 1.9% year-on-year in November,
compared to a 1.1% contraction in October. This highlights a deepening industrial recession that has persisted for over a year.

The decline was driven by a 2.5% drop in intermediate goods production, a 1.3% fall in energy output,
and a 2.8% decrease in capital goods. In contrast, the production of non-durable consumer goods remained stable.
Germany, the region’s largest economy, was among the hardest hit, with industrial output falling by 3.3%,
following sharp declines of 4.5% in October and 4.3% in September.

Despite the annual contraction, industrial output in the Eurozone increased slightly by 0.2% in November,
the same growth rate as October, following a 1.6% decline in September.

 

 

 

 

Bank of Japan Governor: Monetary Policy Decisions Depend on Economic Improvement Signals

Bank of Japan Governor Kazuo Ueda stated during a meeting with branch
managers that the central bank would raise interest rates or adjust its monetary
support if economic and price conditions continue improving toward the inflation target.
Ueda emphasized that upcoming decisions would be based on thorough discussions during the next monetary policy meeting.

He also highlighted the importance of monitoring economic developments in the US and their impact on Japan’s economy.
Ueda noted that the momentum surrounding upcoming spring wage negotiations would be critical,
expressing optimism about early signs of positive wage increases.

Ueda added that the timing of any policy adjustments would depend on future economic,
price, and financial conditions.
This reflects the central bank’s data-driven approach to ensuring monetary stability and achieving inflation targets.

 

UK House Prices See Fastest Growth Since February 2023