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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: RBA Holds, Notes Declining Inflation Risk
MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday
MNI BRIEF: Japan October Real Wages Fall, 19th Straight Drop
The y/y drop of inflation-adjusted real wages, a barometer of households' purchasing power, narrowed to 2.3% in October from a 2.9% fall in September, the 19th straight monthly fall, data released by the Ministry of Health, Labour and Welfare showed on Friday.
Total cash earnings, or nominal wages, posted a 1.5% y/y rise in October, accelerating from September's 0.6%.
Scheduled earnings rose 1.4% y/y in October, also accelerating from September’s 1.0%.
Overtime pay fell 0.1% y/y in October after falling 0.5% in September, while bonuses and other special pay rose 7.5% y/y in October following September’s 8.6%.
While Bank of Japan officials do not expect real wages to turn positive anytime soon, they believe negative real wages will improve as the y/y rise in the consumer price index continues to slow.
Pent-up demand continued to support spending linked to services, but spending on goods, such as daily staples, remained weak.
Total CPI minus imputed rents rose 3.9% y/y in October after rising 3.6% in September.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.