While steering away from commenting on the likely outcome of this week’s central bank meeting, the chief Japan equity strategist pointed to Prime Minister Fumio Kishida’s efforts to raise Japan’s minimum wage as a key reason behind her views.
“This government initiative is very strong,” Nishihara said at a Bloomberg New Voices event Tuesday evening, adding that the long-term commitment gives her confidence that the virtuous cycle between wages and inflation will continue. “I’m actually optimistic of this shift from deflation to inflation,” she said, also noting that around 20% of wages in Japan are impacted by minimum pay levels.
The Nikkei 225, which is already seeing over 30-year highs, may reach 35,000 to 36,000 by year-end or mid-2024, according to Nishihara, as Japan shifts further away from deflation to inflation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley’s Wilson Says Clients See Tough 2024 for Stocks(Bloomberg) -- After a sharp stock rally this year on the back of resilient economic growth, investors now have a more negative outlook for risk assets in 2024, according to Morgan Stanley’s Michael Wilson.Most Read from BloombergMGM Resorts Hackers Broke In After Tricking IT Service DeskHow Auto Executives Misread the UAW Ahead of Historic StrikeEurope Is Better Prepared If Trump Wins Again, Germany’s Baerbock SaysUS, Chinese Officials Meet in Malta in Bid to Keep Channels OpenHouse Republicans
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Morgan Stanley’s Wilson Says Clients See Tough 2024 for StocksAfter a sharp stock rally this year on the back of resilient economic growth, investors now have a more negative outlook for risk assets in 2024, according to Morgan Stanley’s Michael Wilson.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Fed could start cutting rates 'as early as the first quarter of 2024': StrategistThe majority of investors remain optimistic that the Federal Reserve’s interest rate outlook will hold steady for the remainder of 2023. Ahead of this week’s September FOMC meeting, Invesco Chief Global Market Strategist Kristina Hooper joins Yahoo Finance's Brad Smith and Seana Smith to discuss the forthcoming rate hike decision, how Fed officials are considering oil prices amid inflation, and her timeline for when the Fed could start cutting interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »