The biggest attention grabber out of Japan is today’s 7.7% moonshot on the stock market, based on hopes of further central bank stimulus in Asia as well as an expected corporation tax cut over the next few years. Never mind that this comes just one day after the Nikkei joined many other major global stock indexes in wiping out its gains for the year.
For all its single-minded focus on lowering inflation, India’s central bank may be forced to acknowledge slowing growth in Asia’s third largest economy by cutting interest rates — probably faster than it expected.
British wage growth will outstrip the Bank of England’s forecast this year but that doesn’t mean the first rate hike will come sooner.
Brazil’s relentless series of interest rates hikes is successfully lowering inflation expectations – despite recent signs to the contrary, from lottery to tomato prices.
We all now know by now that British inflation has dipped to slightly less than zero, its weakest since 1960. Much of the recent weakness is down to the same reason inflation is so low in the euro zone, Britain’s main trading partner: the collapse in the price of oil.