Japan's Unemployment Rate Edges Up To Highest In Over A Year

Japan's jobless rate rose to its highest in over a year, signaling a slight loosening of the labor market as speculation swirls over a Bank of Japan rate hike in the near term, Bloomberg News reported. The unemployment rate rose to 2.6 per cent in August from 2.3 per cent in the previous month, the Ministry of Internal Affairs reported Friday, against a median economist expectation of 2.4 per cent . Separate data from the labor ministry showed that the job-to-applicant ratio ticked down to 1.20 from 1.22.
Japan
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BOJ's Ueda Warns of Global Uncertainty, Keeps Markets Guessing on Next Hike

Bank of Japan Governor Kazuo Ueda said inflation was on track to durably hit the bank's target but warned of global uncertainties that could discourage firms from raising wages, leaving himself a free hand on whether to raise interest rates in October, Reuters reported. Ueda reiterated the central bank's resolve to continue raising still low interest rates if the economy and prices move in line with its forecasts.
Japan
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Sydney Pub Baron Jon Adgemis Declares Bankruptcy over $1.8 Billion Debt

Sydney pub baron Jon Adgemis has declared bankruptcy owing more than $1.8bn to suppliers and creditors, News.com.au reported. The embattled publican made the call after funding was pulled from lenders and ahead of a court appearance against the Australian Taxation Office, where they planned to recoup $162m in tax obligations. Mr Adgemis founded Public Hospitality during the pandemic, adding 22 pubs and development projects across Sydney and Melbourne. But it was all funded through short-term, high interest loans.

Australia
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New Zealand’s Institute of IT Professionals Collapses

New Zealand’s Institute of IT Professionals has discovered it is insolvent and advised members it has no alternative but to enter liquidation, TheRegister.com reported. The Institute (ITP) wrote to members on Thursday and posted a document titled “Important Update on ITP’s Future” that reveals it has “reached a point where the organization cannot continue. After a full review of our finances, the Board has confirmed that ITP is insolvent.” Insolvency seems to have come as something of a surprise. “These debts are historic. They go back over many years.
New Zealand
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South Korea’s Inflation Rebounds in September

South Korea’s headline inflation rebounded in September, lifted by higher services and food costs, but remained close to the central bank’s 2% target, the Wall Street Journal reported. The slightly stronger-than-expected but still subdued inflation is unlikely to prompt any material change in the central bank’s easing policy stance. The benchmark consumer-price index rose 2.1% from a year earlier, accelerating from August’s 1.7% increase, the statistics office said Thursday. On a month-over-month basis, CPI rose 0.5% in September, versus the poll’s forecast of a 0.4% rise.
South Korea
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India’s Central Bank Stands Pat Amid Tariff Pressures

India’s central bank kept its policy rate unchanged as U.S. tariffs continued to cloud the South Asian economy’s outlook, while signaling that it remains open to further easing, the Wall Street Journal reported. The Reserve Bank of India on Wednesday voted unanimously to maintain its policy repo rate at 5.50%, holding steady pat for a second straight meeting after a jumbo-size cut in June. The central bank also kept its monetary policy stance at neutral.
India
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