Asia Markets Mixed as Investors Assess Economic Data in the Region; Eyes on PCE Inflation Data
Bank of Japan Core Consumer Price Index (YoY) 1.5% Vs. 1.8% Est.; 1.7% Prior
Raising the income tax threshold, japan once again proposed a large-scale stimulus plan, and the market is increasingly believing in a rate hike in December.
Japan's individual income tax threshold will be significantly raised from the current $6,640 to $11,500. Analysts believe that this measure will inject more disposable income into the Japanese economy, easing long-term pressures such as population decline and aging. However, there are also opponents who believe that this is a reckless fiscal expansion, which may exacerbate income inequality, lead to rapid inflation, and possibly pave the way for a rate hike in December.
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Asia-Pacific Markets Mixed as Traders Digest Latest Monetary Decision From the PBOC