Japan's core CPI - which excludes fresh food and is the BoJ's targeted measure - fell for the 8th straight month in October by 0.4% y/y, said BMO in its morning note. Though the downward pace did finally slow, the report highlights just how far the BoJ is from achieving its 2% inflation target. After three years of aggressive easing, policy options seem to be running out as the fight against deflation rages on. The yen's recent slide against the dollar and other major currencies could allow for a pick-up in consumer prices, but it's nothing that would move the BoJ from its firmly-rooted easing stance. Meantime, the second estimate for Q3 U.K. GDP growth stayed unrevised at +0.5%, as expected. However, the detailed breakdown that comes with today's report showed that business investment increased by a better-than-expected 0.9%. So far, the U.K economy has weathered the impact from the historic vote to leave the EU, but as RBC economist Jennifer Lee points out: "the volatility surrounding Brexit has yet to begin." The third and final estimate for Q3 comes out in December.
News 
Market Data 
Discover 
