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Japanese Consumer sentiment worsens, raising doubts about the timing of interest rate hikes.
A government survey on Wednesday showed that consumer sentiment in Japan deteriorated in December, raising doubts about the central bank's view that robust household spending would support the economy, justifying interest rate hikes. The results were released ahead of the Bank of Japan's policy meeting on January 23-24, where some Analysts expect the bank may raise interest rates. According to a survey by the Cabinet Office of Japan, the Index measuring consumer confidence fell to 36.2 in December, down 0.2 points from the previous month. Another data point indicated that Japan's output gap (the difference between actual and potential output in the economy) from July to September widened for the 18th consecutive time.
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