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BOJ’S UEDA SIGNALS CHANCE OF POLICY SHIFT, PROGRESS ON PRICE GOAL Bank of Japan Governor Kazuo Ueda said on Monday the likelihood of achieving the central bank’s inflation target was “gradually rising” and it would consider changing policy if prospects of sustainably achieving the 2% target increase “sufficiently.” While companies are becoming more open to raising wages and prices, the key is whether wages will continue rising next year and lead to further increases in service prices, Ueda said. Source: Reuters INFLATION NEARS THE FED'S TARGET On Friday, inflation data showed the Fed taking a crucial step towards returning inflation to its 2% target. The Personal Consumption Expenditures Price Index showed prices on a “core“ basis, which strips out food and energy and is the Fed's preferred inflation measure, rose 3.2% over last year in November. This was the slowest annual increase since April 2021. But slicing this data more finely reveals the central bank has more or less reached its goal. On a six-month annualized basis, “core“ PCE came in at 1.9% in November. Source: Yahoo Finance STOCKS SIT NEAR RECORD HIGHS AS 2023 TRADING WRAPS UP The US stock market will enter the final trading week of 2023 with the whole story coming together. Inflation data out Friday showed the Federal Reserve continues to close in on its goal of returning inflation to 2% and puts the central bank on the path towards cutting interest rates. Recession signals remain few and far between. Interest rates have moderated from decade-plus highs reached this fall. The Dow Jones Industrial Average and S&P 500 are on the doorstep of record highs. And the Nasdaq Composite is up over 40% this year. Source: Yahoo Finance #usinflation #stockmarket #usstocks #dowjonesindustrialaverage 🌐 FXOpen official website: Join us on our social networks: ✅ ✅ ✅ ✅ CFDs are complex instruments and come with a high risk of losing your money.
