0039 GMT - A fresh set of data from Japan suggests conditions remain in place for further monetary tightening, Capital Economics says. The end-of-month data rush vindicates the Bank of Japan's decision to hike last week, with Tokyo CPI for January backing its view that risks to inflation are tilted up, says economist Marcel Thieliant. Japan's December industrial output rebounded while unemployment fell. Retail sales values declined on month, but CE thinks the BOJ consumption activity index is typically a better guide to consumer spending, and that only fell marginally in 4Q. It sticks to a forecast for a 0.2% on-quarter rise in 4Q GDP and sees inflation ex-fresh food and energy on track to top the BOJ's median forecast for the fiscal year starting in April.(fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 19:39 ET (00:39 GMT)
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