Weak consumption in Japan may further pressure BoJ to raise interest rates, slow yen fall

An analysis piece from Reuters on the pressures the Bank of Japan is facing to hike rates sooner and higher.

In brief:

• Consumption, wage, service price data key to rate hike timing
• BOJ chief Ueda faced calls to moderate yen falls at govt council
• Political pressure to prod Ueda to keep dropping hawkish signals

On this quiet (so far) Monday this is worth a read for background into:

• BOJ may face more pressure to hike rates as weak yen hits consumer spending

—

Ueda comes across to ma as a bit more ‘old school- ie he’ll keep rates lower to prompt consumption, and will resist, as best he can, political pressure to raise.

USD/JPY update, getting off to a weakish start:

This article was written by Eamonn Sheridan at www.forexlive.com.