Core Viewpoint - The Chief Economist of the Reserve Bank of New Zealand, Conway, indicates that underlying inflation is continuing to ease [1] Group 1 - The Reserve Bank of New Zealand is observing a persistent reduction in core inflation [1] - This trend suggests a potential shift in monetary policy considerations moving forward [1]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, emphasizes the need for cautious evaluation of the impact of rising food prices on core inflation, as the underlying inflation level is now closer to the 2% target compared to a few years ago [1] Group 1 - The current level of underlying inflation is approaching the 2% target, indicating a shift in economic conditions [1] - The Bank of Japan is focusing on the effects of food price increases on core inflation metrics [1]

Core Viewpoint - JPMorgan Chase has lowered the risk of a U.S. economic recession to below 50% and adjusted its expectations for the Federal Reserve's interest rate cuts from September to December [1][3]. Economic Outlook - JPMorgan's chief U.S. economist, Michael Feroli, attributes the improved outlook to the U.S. government's recent reduction of certain tariffs on China, which has significantly lowered recession risks [3]. - The firm has raised its growth forecast for the U.S. economy, now expecting a growth of 0.6% in 2025, up from a previous estimate of 0.2% [3]. Inflation and Employment - A key inflation measure, the Personal Consumption Expenditures (PCE) price index excluding food and energy, is now expected to rise to 3.5%, down from an earlier forecast of 4%, indicating reduced inflationary pressures [3]. - Although a slight decline in employment is anticipated later this year due to a slowdown in labor demand, the overall employment situation is not deemed alarming, reducing the urgency for the Federal Reserve to act [4]. Federal Reserve's Rate Cut Timing - The adjustment in the expected timing for interest rate cuts reflects a broader consensus among major Wall Street firms, with Goldman Sachs and Barclays also pushing their rate cut predictions to December [4][5].

Core Viewpoint - The Deputy Governor of the Bank of Japan, Shinichi Uchida, indicated that Japan's core inflation and medium- to long-term inflation expectations may experience a temporary stagnation [1] Group 1 - The statement reflects concerns regarding the stability of inflation in Japan, suggesting that current inflationary pressures may not sustain their momentum [1] - The commentary implies potential implications for monetary policy, as stagnant inflation could influence the Bank of Japan's future decisions [1]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, is focusing on the impact of rising prices on core inflation [1] Group 1 - The Bank of Japan is closely monitoring the increasing prices and their effects on the underlying inflation trends [1] - There is a growing concern regarding how persistent inflation could influence monetary policy decisions in Japan [1] - Ueda emphasized the importance of distinguishing between temporary price increases and more sustained inflationary pressures [1]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, stated that exchange rates should fluctuate based on economic fundamentals and emphasized that there is no need for hasty interest rate hikes when underlying inflation is stagnant [1] Group 1 - The Bank of Japan's stance on exchange rates reflects a focus on economic fundamentals rather than speculative movements [1] - Ueda's comments suggest a cautious approach to monetary policy, indicating that the central bank will not rush into raising interest rates without clear signs of inflationary pressure [1] - The emphasis on stable economic conditions highlights the Bank of Japan's commitment to maintaining a balanced approach in its monetary policy [1]

日本央行行长植田和男：基础通胀增长放缓并不意味着加息将会推迟。 ...

日本央行：基础通胀有望在预测期后半段达到日本央行的目标。 ...