TechFlow News, May 22: Abhijit Surya, Senior Economist for Asia-Pacific at Capital Economics, stated that a series of data released this week indicates the Japanese economy possesses sufficient resilience to support further interest rate hikes. Surya noted that while the global energy crisis will inevitably sap economic momentum, signs suggest the slowdown may not be severe. As of mid-May, Japan’s fuel consumption reserves could cover 206 days, and the inventory drawdown rate has slowed significantly—indicating refiners may have made progress securing non-Middle Eastern supply sources. Meanwhile, price pressures are broadening: preliminary PMI data suggests core goods inflation could approach 8% by end-2026. Capital Economics now expects the Bank of Japan to tighten policy more aggressively—roughly once every four months—raising its policy rate to a terminal level of 2% by end-2027. (Jinshi)
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