Word: economisters
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...like airline tickets (up 7.9% so far this year) and higher prices on pretty much anything that travels before reaching a store. Even clothing has been inching up after months of deep discounting. "I wouldn't expect a lot of relief on gasoline prices," says Richard Berner, chief U.S. economist at Morgan Stanley. In addition to geopolitical tension, the hurricane season and its potential to disrupt refineries on the Gulf of Mexico lie ahead. And as we grudgingly get used to $3-per-gal. gasoline--it's been nearly two years since crude oil broke $50 a barrel--companies feel...
...rate hike is by no means guaranteed?the BOJ could wait until its next meeting in August or beyond. But 32 out of 41 analysts and traders surveyed by Reuters last week said they expect an increase at this week's meeting. Yasunari Ueno, chief market economist at Mizuho Securities, says, "I put the possibility for a hike this week at 80% to 90%." If it doesn't happen, there's nonetheless a widespread belief that it will inevitably do so in the next few months?and that the first rise will likely be followed by more...
...been conclusively vanquished and that higher rates could dampen growth. Bitter memories remain of 2000, when the BOJ prematurely raised rates from 0% to 0.25%, plunging Japan back into recession; six months later, the BOJ was forced to drop rates back to zero. Still, Jesper Koll, chief Japan economist at Merrill Lynch, says fears of a replay of 2000 are misguided: "The Japanese economy is fundamentally different today, fundamentally stronger...
...their assets in a blind trust, he has apologized for his bad judgment and vowed to give away his profits from the fund. Fending off calls to resign, he has needed the support of politicians in the ruling Liberal Democratic Party to keep his job. But Richard Jerram, an economist at Macquarie Securities in Tokyo, dismisses any speculation that Fukui's independence has been compromised. "The BOJ has been working for years to prove that it is immune to outside pressure," says Jerram, who argues that political interference might actually embolden Fukui to raise rates...
...interest income. But the cost of loans for housing and credit cards would inch up, and stocks traditionally suffer when rates rise. Still, after so many years trapped in an economic twilight zone, the Japanese may find such worries almost a pleasure to contemplate. As Tatsushi Shikano, a senior economist at Mitsubishi UFJ Research and Consulting, says: "It's a sign that things are going back to normal...