BOJ reports rising wages boosting consumption, signaling potential interest rate hikes.

The Bank of Japan (BOJ) reports that rising wages are boosting consumption and signaling readiness for potential interest rate hikes. However, some small and medium-sized firms struggle with profitability, raising concerns. The BOJ's next policy meeting on October 30-31 will review these factors, with many economists expecting a rate increase by year-end. Japan's economy grew at an annualized 2.9% in Q2, but challenges from weak demand in China and the U.S. remain.

October 07, 2024
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