Consumer goods CPI may still face constraints, the Bank of Japan may delay interest rate hikes until March, and the Federal Reserve will slow down the pace of interest rate cuts --- 0109 Macro Dehydration

In December, the PPI remained negative month-on-month, with the decline in prices of bulk commodities such as coal and steel affecting the recovery of the PPI, suppressing the commodity CPI. The trade-in policy improved consumption volume but exerted pressure on the CPI readings. Japan's nominal wage growth was 3%, while real wages declined moderately due to inflation. It is expected that the Bank of Japan will delay interest rate hikes until March, while the Federal Reserve will slow down the pace of interest rate cuts due to inflation risks. U.S. employment data showed strength, with December non-farm data expected to remain resilient