TOKYO — Japanese household spending fell at a slower pace than forecast in October, but while the broader consumption trends remain soft, the Bank of Japan (BOJ) is still expected to raise rates again to normalize monetary conditions after a decade of easy policy.
TOKYO — Japanese household spending fell at a slower pace than forecast in October, but while the broader consumption trends remain soft, the Bank of Japan is still expected to raise rates again to normalize monetary conditions after a decade of easy policy.Some analysts say a recovery in wages would eventually spur consumers to loosen their purse strings and encourage the BOJ to keep pushing borrowing costs higher.
Economists attributed the underlying softness in consumption to rising prices and warm weather, which held consumers back from purchasing seasonal apparel.In recent days, many economists have cast doubt about the feasibility of increasing borrowing cost as the economy is yet to show signs of a sure-footed recovery.However, some economists expect the BOJ could still tweak rates, citing a March meeting when it ditched negative rates despite sluggish consumption data.
Soft Consumer Spending Slowly Falls
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