海外研报

BoJ: why this time is different

We calculate z-scores (using 1990-2019 as our sample) for four key measures ofunderlying inflation: (1) Shunto (wages), (2) core-core CPl adjusted for changes inconsumption taxes, and (3-4) price expectations series from surveys that haveproved to

Brazil: Consumers help lift 2024 growth estimate, but 2025 outlook has weakened

Recent industrial production and retail sales data point to strong consumptionfueled growth in 2Q24, with a carryover effect leading us to upgrade our 3Q24