[ad_1]
Asia markets mostly lower ahead of Powell’s speech at Jackson Hole; Australia snaps 10-day win streak
Asia-Pacific markets mostly fell on Friday as investors awaited U.S. Federal Reserve Chairman Jerome Powell’s comments at the Jackson Hole gathering of global central bankers.
In the past, Powell has outlined broad policy initiatives and provided clues about the U.S. policy path at Jackson Hole.
In Asia, data from Japan showed the country’s headline inflation at 2.8% in July, unchanged from the previous month.
Core inflation, which strips out prices of fresh food, stood at 2.7%, in line with expectations from economists polled by Reuters and higher than June’s figure of 2.6%.
However, the so called “core-core” inflation rate, which strips out prices of both fresh food and energy and is tracked by the Bank of Japan, fell to 1.9% in July from 2.2% in June.
This is the lowest the “core-core” inflation rate has reached since September 2022.
[ad_2]
Source link