10 Hrs
Source:
اقتصاد سكاي نيوز عربية
Japan economy surge raises rate hike outlook
Japan's economy achieved growth exceeding expectations in the second quarter, expanding by 1.4% on an annual basis, supported by sustained strong global demand and reduced impacts from geopolitical tensions, although the growth was below the forecasted 1.8%. The growth was mainly driven by increased government spending and improvements in external trade. Meanwhile, wages recorded their highest increase since 1997, rising by 4.7% in July, and bank lending continued to rise for the fifth consecutive month, exceeding 5%. Data indicates that inflation and overall economic indicators support the possibility of a rate hike at the upcoming Bank of Japan meeting, despite pressures from rising energy prices and the geopolitical situation. At the same time, the government is seeking to stimulate consumption by cutting sales taxes on food and beverages, while bond yields have risen to their highest levels in three decades.
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