Japan data is stunningly good, a surge in spending:
December Household Spending YoY +2.7%
- expected: 0.2%, previous: -0.4%
December Household Spending MoM +2.3%
- expected: -0.5%, previous: 0.4%
After a pullback on comments from BoJ's Tamura yesterday,
- BOJ's Tamura makes his case again for faster interest rate hikes
- Tamura says BoJ must raise short-term interest rates to at least 1% by the H2 fiscal 2025
- BOJ's Tamura: It is difficult to specify the terminal rate at this point
- BOJ's Tamura: The pace of rate hikes may not necessarily be once every half a year
USD/JPY dropped again overnight:
