Summary of major events on the evening of July 9
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Bank of Japan Governor: Will continue to raise interest rates depending on circumstances; Middle East situation, AI demand, and exchange rates are key variables.
Kazuo Ueda stated that the underlying price trend is steadily approaching the 2% policy target. With both corporate wage increases and pricing behaviors becoming more positive, there is a risk that the inflation rate may exceed the target. He mentioned that there is no predetermined idea on the specific pace of rate hikes; policy decisions will be made after thorough discussions at each meeting, taking into account the timing and pace of any policy adjustments.
Pokémon card sales restriction triggers a "roller coaster": Japan's second-hand marketplace Mercari plunges before rebounding, Citigroup calls it "oversold"
A trading restriction on Pokémon cards has caused significant volatility in the share price of the Japanese online trading platform Mercari.
Middle East conflict pushes up inflation, ECB may "stand pat" until final rate hike in December
Due to rising oil and gas prices driven by Middle East conflicts and heightened inflation expectations, the European Central Bank may implement its final rate hike of this cycle in December.
UK retail sales unexpectedly increase by 0.5% in August, boosted by warm weather and improved consumer sentiment
Despite rising energy bills, UK retail sales unexpectedly grew in August, as warm weather and improved public sentiment boosted consumption.
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