- Goldman Sachs no longer expects any more Bank of England cuts in 2025
- New Zealand Credit Card Spending for August +3.5% y/y (prior +1.4%)
- Former chancellor Hunt: Reeves faces “very difficult” UK budget with £50bn fiscal gap
- China sets 2030 target: 100 cities, 10,000 “15-minute living circles” to boost consumption
- Asian currencies steady, risk appetite offers support: NAB
- ICYMI: Bessent: Yuan weakness a bigger problem for Europe than the U.S.
- Trump’s team is considering a $550bn fund to boost factories, energy and critical sectors
- PBOC sets USD/ CNY reference rate for today at 7.1128 (vs. estimate at 7.1174)
- China state press: Fed cut eases pressure, gives PBoC more policy room
- Could Bitcoin hit US$1mn. Yes. Here’s what it would take. 4 key requirements.
- PBOC is expected to set the USD/CNY reference rate at 7.1174 – Reuters estimate
- Recap – Japan August CPI slows to nine-month low, BoJ seen cautious on next hikes
- Canada, Mexico to launch new security dialogue, reaffirm U.S. partnership
- Japan August headline inflation 2.7% (expected 2.8%)
- UBS expects 75bp more Fed cuts as Powell highlights labour market weakness
- UK consumer confidence slips on tax fears, outlook deepens gloom
- NAB expects the RBA will cut the cash rate in November and again in February
- New Zealand data: August trade balance is NZD -1.19bn (prior -578mn)
- China slashes US Treasuries stake, holdings sink to lowest since 2008
- Preview – BoJ seen keeping rates at 0.5% as tariffs, U.S. slowdown weigh on outlook
- Chinese President Xi Jinping has agreed to speak with Trump, call scheduled Friday
- Japan’s Takaichi to propose tax cuts, cash payouts in LDP leadership campaign – Nikkei
- MUFG expects Bank of Japan to hold off rate rise, sees next hike pushed to January 2026
- investingLive Americas FX news wrap: Initial claims and Philly Fed show a better economy
- Date set for US Supreme Court to decide legality of Trump Tariffs. Don’t hold your breath.
The focus was firmly on Japan today.
August national inflation showed core CPI slowing to 2.7% y/y, in line with forecasts and easing from 3.1% in July, though still above the BoJ’s 2% target. The core-core index (excluding both fresh food and fuel), a key gauge of underlying trends, rose 3.3% y/y, down slightly from 3.4% in July. The data offered only modest relief for households but remain strong enough to keep the BoJ cautious.
Attention now turns to the Bank of Japan’s policy decision, with the Bank widely expected to leave its main rate unchanged.
Elsewhere, major FX rates traded in subdued ranges.
This article was written by Eamonn Sheridan at investinglive.com.