Japan hikes rates to highest since 2008 as sustained inflation, rising wages signal 'virtuous cycle' in play

• Japan core inflation climbs to a 16-month high, boosting case for rate hikes

  The Bank of Japan is expected to raise rates by 25 basis points later in the day as it concludes its monetary policy meeting.
  
  CNBC - 8h

• Japan’s biggest banks hit valuation landmark as BoJ weighs rate rise

  Largest lenders now trade at or close to their book values for first time in almost a decade
  
  Financial Times - 23h

• Bank of Japan is expected to hike rates this week, CNBC survey shows

  Out of 19 economists, 18 agreed on prospects of a rate hike, with most pointing to a recent change in tone of the BOJ leadership as driving their expectations.
  
  CNBC - 2d
• 

  Pay after inflation rises at fastest rate since 2021

  Wage growth increased by 3.4% after taking into account inflation, driven by strong increases in the private sector.
  
  BBC News - 2d

• 30-Year Mortgage Rate Climbs to 6.93%, the Highest Since July

  Borrowing costs have been rising for months, tracking yields on government bonds. The move threatens to push more buyers and sellers to the sidelines.
  
  The New York Times - Jan. 9

• 10-year Treasury yield rises to highest since April as Fed notes upside risk to inflation

  The benchmark yield topped 4.7%, after the latest Fed meeting minutes indicated greater concern over inflation.
  
  CNBC - Jan. 8
• 

  UK 10-year borrowing costs hit highest level since 2008

  Treasury seeks to reassure markets as gilt sell-off threatens the government’s ability to meet its fiscal rules
  
  Financial Times - Jan. 8

• Mortgage rates hit highest level since July, crushing application demand

  Total mortgage application volume dropped 3.7% compared with the previous week.
  
  CNBC - Jan. 8
• 

  Another year of big wage hikes likely at big Japan firms, business lobby chair says

  Yahoo News - Jan. 7

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  Charles Phan, Whose Slanted Door Elevated Vietnamese Food, Dies at 62

  A culinary star familiar on TV, he married local ingredients with the food he grew up on in running an acclaimed San Francisco restaurant and its offshoots.
  
  The New York Times - 3h