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Macro and Prices
Three economic reports highlight the week ahead: Japan's labor cash earnings at the start of the week and the US employment report and China's CPI at the end of the week. In addition, the Reserve Bank of Australia meets early on July 5. The Bank of Japan's insistence that inflation, which is running slightly above target is not sustainable is that it is a function higher fresh food and energy prices and the statistical impact of last year's cut in cell phone charges dropping out of the 12-month comparisons. What is missing, the BOJ says is wage growth. Over the last decade, monthly cash earnings have risen by more ... (full story)