- With seven years of deflation finally coming to an end, outgoing Bank of Japan board member Miyako Suda said the country is close to changing its ultra-loose monetary policy. “What I see as the key determinant to a policy shift is whether consumer prices rise on a sustained basis,” Suda told a group of business executives. “For now, I believe the end to quantitative easing is nearing.”
- Japan’s trade surplus in August rose an astounding 80 percent from a year ago. The surplus for the month was more than 116 billion yen, about $1.05 billion.
- Australia’s economy grew 1.3 percent in Q2 compared to Q1 and 2.3 percent compared to Q2 2004. According to the Australian Bureau of Statistics, “Very strong growth in terms of trade (up 5.8 percent) is reflected in strong growth in real net national disposable income of 3.1 percent in the June quarter.”
- Hong Kong’s Q2 unemployment remained at 5.7 percent compared to Q1, according to preliminary data. The jobless rate dropped 1 percent from Q2 in 2004. “Looking ahead, labor demand is likely to continue to grow along with the sustained pick-up in overall economic activity,” said a government spokesperson.
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