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Japan’s Input-Cost Squeeze Keeps Inflation Pressure Alive

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‼️ 💴 🇯🇵 Japan’s producer-price inflation remained elevated in August, with input prices rising 7.6% year on year—above the 7.4% consensus estimate—though marginally slower than July’s revised 7.7%, the strongest pace since February 2023. Prices fell 0.2% month on month after a revised 0.4% increase in July, but oil and coal products, chemicals, IT and communications equipment, and non-ferrous metals continued to drive annual cost pressures. The data underscore the challenge for Japanese companies as higher energy, freight, packaging and labour costs sustain pressure to raise prices for consumers.

India’s Bond Bears Are Betting the RBI Will Drain the Liquidity Punchbowl

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‼️ 🇮🇳 Bets against India’s short-term government bonds are building as traders position for the Reserve Bank of India to drain the banking system’s roughly ₹11 trillion liquidity surplus. Overnight short positions in the five-year benchmark pushed daily borrowing above ₹100 billion ($1 billion) at the start of the month—about double early-August levels—making it the market’s most-shorted bond on several occasions, an unusual development. The move signals growing expectations that sustained RBI liquidity absorption will lift short-end borrowing costs and push yields higher.

BOJ Set for September Hike as Economists See Another Move by January

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‼️ 🇯🇵 The Bank of Japan is expected to raise its benchmark rate at its Sept. 18 meeting, with most economists also forecasting a second hike by January as policy normalization accelerates. In Bloomberg’s survey of 52 BOJ watchers, 93% anticipated another move by January—about one-third in December and the remainder in January—while none expected an October hike.

Anthropic Alleges Moonshot Used Thousands of Fake Accounts to Funnel Kimi Queries to Claude

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‼️ 🧠 Anthropic accused China’s Moonshot AI of secretly routing thousands of user queries to Claude models and presenting the responses as Kimi’s own. The company said Moonshot sent nearly 300,000 requests—mainly to Claude Opus—via 5,380 allegedly fraudulent accounts in Singapore and Japan to bypass restrictions on accessing Anthropic’s technology from China.

Xi Returns to India: BRICS Summit Sets Stage for First Xi–Modi Face-to-Face Since 2019

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‼️ 🇨🇳 🇮🇳 Chinese President Xi Jinping will visit India on September 12–13 to attend the BRICS summit and is expected to hold sideline talks with Prime Minister Narendra Modi, marking his first trip to India since 2019. The visit comes after years of strained relations following deadly border clashes in 2020 and signals Beijing’s prioritization of both the BRICS platform and stable ties with the world’s most populous country, even as China increasingly prefers to host foreign leaders domestically.