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The Bank of Japan (BoJ) published the Summary of Opinions from the October monetary policy meeting, with the key findings noted below.   

British employers expect to raise pay by around 3% over the next year, but growing use of artificial intelligence could reduce headcount, according to a new survey that also highlighted weaker hiring intentions and concern over government tax policy.

The Chartered Institute of Personnel and Development (CIPD) said overall recruitment plans are among the weakest since the pandemic, with hiring especially soft in the public sector.

• One in six firms expects AI adoption to shrink their workforce over the coming year, with a quarter of those anticipating job cuts of more than 10%.
• Clerical, junior managerial, and administrative roles are seen as most at risk.

CIPD senior economist James Cockett warned that the government’s recent rise in employers’ social security contributions has already cooled hiring, and urged Finance Minister Rachel Reeves to avoid further tax measures that could worsen the slowdown. He called for more investment in workforce skills to help employees adapt to AI-driven change.

The survey, conducted between September 19 and October 14, showed median expected pay rises holding at 3% for a sixth straight quarter.

• By contrast, a Bank of England survey found firms predicting 3.7% wage growth in the three months to October, while official data due Tuesday are expected to show annual regular pay rising 4.6% in the latest quarter.

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The CIPD’s survey adds to signs of cooling labour demand as firms balance steady wage growth with rising automation. Slower hiring could reinforce the Bank of England’s case for easing rates, though persistent pay pressures may complicate its December decision.

This article was written by Eamonn Sheridan at investinglive.com.

China’s Ministry of Commerce said that it would temporarily lift its ban on approving exports of “dual-use items” related to gallium, germanium, antimony, and super-hard materials to the United States (US). The suspension takes effect from Sunday until November 27, 2026, Reuter reported on Sunday.

The post Eco Data 11/10/25 appeared first on Action Forex.

Bank of Japan policymakers appear increasingly aligned on the need to continue normalising interest rates, though opinions differ on timing and conditions, according to the summary of the central bank’s October meeting released Sunday US time.

Several members said the BOJ should raise rates further if its economic and price forecasts hold, with one noting that conditions for another move are “almost met.” Others stressed the importance of confirming that companies maintain active wage-setting behaviour before tightening policy, particularly as firms finalise pay plans for next year in response to U.S. tariffs set at 15%.

Some members urged patience given uncertainty surrounding global markets and Japan’s new government’s fiscal stance, though one warned that delaying hikes too long could force more aggressive action later. Another said raising rates closer to a “neutral” level now would help prevent distortions in the economy.

The summary highlighted a cautious but steady shift toward policy normalisation. Members said Japan is approaching an environment conducive to further rate adjustments if wage and inflation trends remain supportive. One policymaker suggested that a rate increase soon could help counter inflationary risks from a weaker yen but emphasised the need for careful examination before acting.

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The BOJ’s latest summary signals growing comfort with the idea of further tightening, reinforcing market expectations for a potential move in early 2026. Maybe even December 2025. Traders will watch upcoming wage data and comments from board members for confirmation of a December or January hike window.

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From the day of the meeting:

• Bank of Japan leaves rates unchanged, as expected
• JPY has dropped after the Bank of Japan expected ‘on hold’ decision, Nikkei up
• BOJ governor Ueda: Easy monetary conditions will continue to support the economy
• BOJ governor Ueda: No preset ideas about timing of next rate hike
• BOJ governor Ueda: We need more data in deciding to adjust degree of monetary easing
• BOJ governor Ueda: Want to see early momentum of spring wage negotiations

Don’t want to read that lot? Here is TD’s take on the decision and Ueda, seems a reasonable one:

• The BoJ’s hold and Ueda’s cautious remarks weakened the yen, but TD Securities said a December move remains on the table as wage data and fiscal coordination evolve.

This article was written by Eamonn Sheridan at investinglive.com.

Japan JP Foreign Reserves up to $1347.4B in October from previous $1341.3B

Japan JP Foreign Reserves up to $1347.4B in October from previous $1341.3B

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said early Monday that getting inflation down will require policy to be restrictive.

Reserve Bank of Australia Deputy Governor Hauser

• Don’t think its mad to think future rate cuts would be coming
• There are different views you can take about rate outlook
• Will feel our way with neutral rate, will see how tight or loose policy is by judging the macro economy
• Financial conditions are more close to neutral than we thought a while ago
• Inflation pickup likely temporary
• Primarily looking at data as they come in

Earlier:

• RBA’s Hauser says getting inflation down will require policy to be restrictive

This article was written by Eamonn Sheridan at investinglive.com.

Japanese Prime Minister Sanae Takaichi has signalled a major shift in fiscal policy, saying her government will drop the annual target for achieving a primary budget surplus in favour of a multi-year framework.

Speaking in parliament on Friday, Takaichi said progress in restoring Japan’s finances will be judged “over a span of several years,” effectively diluting the country’s long-standing fiscal consolidation goal.

Her administration plans a new stimulus package to offset rising living costs and boost investment in growth sectors and defence. Analysts see the move as another sign of Tokyo prioritising growth over budget tightening, even as public debt remains more than twice the size of the economy — the highest among major economies.

The change marks a clear break from past administrations that used the annual primary balance target as proof of fiscal discipline. Takaichi, a known advocate of government spending, has criticised the metric as too restrictive and out of step with global norms.

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The shift away from Japan’s annual fiscal target signals a more expansionary policy stance under Takaichi, reinforcing expectations of continued fiscal stimulus. Markets will likely view the move as supportive for growth but negative for the yen and bond stability.

This article was written by Eamonn Sheridan at investinglive.com.