Japan reports faster GDP growth and highest wage rise since 1997, supporting expected BOJ rate hike
Revised second-quarter GDP data and July wage figures showing the biggest jump in nearly three decades reinforce expectations for an upcoming Bank of Japan interest-rate hike, while the Japanese yen reached a six-month high beyond the 155 per dollar level and Asian equities benefited from chip stock gains.
- Japan's second-quarter GDP grew faster than initially estimated.
- July nominal wages grew at the fastest pace since 1997.
- The yen reached a six-month high beyond the 155 per dollar level.
- South Korean chip stocks rose to support Asian equities.
Sources
- Bloomberg — Yen’s Rally Through Key Level Puts Currency’s 2026 High in Reach
- Bloomberg — Japan’s Faster GDP, Wage Growth Support BOJ Interest-Rate Hike
- Bloomberg — Japan’s Wages Grow Most Since 1997, Keeping BOJ on Rate Hike Path
- Bloomberg — Yen Advances to Six-Month High, Chip Stocks Rise: Markets Wrap