Japan's October producer prices rise 7.1%, rate-hike expectations heat up

TechFlow reported on Nov. 12 that, according to BeInCrypto, Japan's October producer prices rose 7.1%, above the 6.5% expected by economists; import prices in yen terms rose 24.8%

The Bank of Japan has raised rates twice this year, taking its policy rate to 1.25%. The report noted that a further hike in December would be Japan's first three rate hikes in a calendar year since 1989

The report said rising Japanese interest rates could weaken the appeal of yen carry trades; if the yen strengthens abruptly, investors may be forced to sell risk assets such as U.S. stocks and Bitcoin, although a single rate hike does not necessarily trigger a market sell-off

Source: TechFlow