STORY CONTINUES BELOW THESE SALTWIRE VIDEOSA look at the day ahead in U.S. and global markets from Mike Dolan
"If we judge that Japan can achieve its inflation target even after ending negative rates, we'll do so," Ueda said. But the prospect of BOJ tightening and a stronger yen was less welcomed by other stocks and the Nikkei closed down 0.4%.If Japan's does tighten further by yearend, it comes as the Federal Reserve and European Central Bank rate hike campaigns are coming to halt. Markets are betting the ECB will at least pause its series of rate rises at 3.75% when it meets this week - although many think it will be a close call on Thursday.
Irked by the recent rebound in energy prices, headline U.S. CPI inflation is expected to have picked up pace last month to 3.6% from 3.2% - although the Fed may still be relieved as stickier 'core' inflation is forecast to ebb 0.4 point to 4.3%, its lowest since 2021.More generally, stocks were in decent shape on Monday after a rum start to September and a plethora of mixed macro signals.
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Marketmind: Japan jolt as inflation forksWith U.S. markets homing in on this week's critical August inflation update, Japan threw a curve ball into the piece by signalling a possible early end to its easy money stance just as other G7 central banks are mulling an end their tightening. In a weekend interview, Bank of Japan Governor Kazuo Ueda said the central bank could end its 7-year-old negative interest rate policy when achievement of its 2% inflation target is in sight - suggesting the BOJ is considering official interest rate hikes as well as an early end its bond-buying, yield cap policy. 'If we judge that Japan can achieve its inflation target even after ending negative rates, we'll do so,' Ueda said.
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Marketmind: Tightest financial conditions this year biteBy Jamie McGeever (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set for a ...
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Marketmind: China's weak property stocks set the paceA look at the day ahead in European and global markets from Kevin Buckland A light calendar for Europe today means markets are likely to take their cues ...
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Marketmind: China's weak property stocks set the paceA light calendar for Europe today means markets are likely to take their cues from Asia, and there's a lot going on - particularly in China. Property shares are taking a beating after weekend data showed new home sales in China's biggest cities slumped by half in the first week of this month. Country Garden, China's biggest private developer, added to pressure on the sector at the centre of the country's economic woes as it faces a new round of voting by creditors - the third this month - to avert default, in this case by extending debt repayments to onshore creditors by three years.
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