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  • Tokyo inflation edged down to 2.7% year-over-year in November, but the BoJ will focus more on the markets.
  • Government claims that total borrowing this year will less than last year have provided reassurance for now.
  • The 2026 wage outlook looks reasonably promising, despite the earlier profit hit to automakers from tariffs.

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Keywords for: 1 December 2025 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence