To replicate the vital Himino speech to wages and prices, Imports, Exports, PPI and USD/JPY levels are offered for January to October 2023.

Exports and imports

Monthly Exports for 2023 dropped by -0.01% or 10%. -2.1 to 0.07 = -300.00%. The decrease was -133.33 %.

Yearly Exports 9.0 to 2.3 = 0.21 or 21%. 9.0 to 2.4 = 3759%. The decrease was -73.33%.

Monthly to yearly dropped -44.00%.

Monthly Imports -4.4 to 2.3 = -0.10%. And 9.0 to 2.3 = -191.30%. The decrease was -152.27%.

Yearly Imports = 17.0 to -11.7 or -1.98%. The Decrease was -168.82%.

Monthly to yearly = 10.86%.

USD/JPY

From the BOJ Index, 3.5 to 1.3 = -0.04% and a decrease of -168.82. USD/JPY tracked perfectly to yearly Imports and close enough to the monthly at -152.27%.

USD/JPY Nominal or Market Values.

127.21 to 151.90 = 127.21  of 151.90 = 193.27% and 127.21 is 151.90% of 83.74.

The Difference of 127.21 and 151.90 are 17.691949410627%. And 151.90 is a 19.408851505385% increase of 127.21.

PPI

9.5 to 0.8 dropped 42.9%.

Wages

The average monthly Salary runs from 130,000 to 230,0000 or a  relationship of 2990000 but both share a percentage of 0.0056.

In USD terms from 958 to 1644, the relationship sits at 5.65%. At 958 to 1644 = 162323.52%.

Japan minimum wages run from 961 Yen to 985 or 9465.84% and an increase of 2.49% and 961 = 97.5% of 984.

Inflation

4.30 to 3.30 = 0.14 or 14%. At 4.30 is 130.30303030303 % of 3.30. And 4.30 is 3.30% of 130.30303030303 %. The Difference of 4.30 and 3.30 are 26.315789473684 %.

JPY average Inflation move is 14%.

JGP 10 year

JGB 10 year = 0.00433875 is 0.445% of 0.975. and 0.445 is 45.641025641026 % of 0.975. The Difference of 0.445 and 0.975 are 74.647887323944 %.

Recap

Exports = Monthly to yearly dropped -44.00%. Imports = Monthly to yearly = 10.86%. USD/JPY = +19%. PPI = -42%. Wages 2.9%. The 10 year JGP = 74.00.

Himino

The 2 major questions were Response of Wages to a 1% Increase in Prices and Response of Prices to a 1% Increase in Wages.

Wages at 0.0056 to Inflation at 0.14 = 3.99% and at a 1% increase = 0.03 and -74%. A 1% increase of 0.0056 = 0.00056 Vs 0.14 Inflation = + 249900 %.

In the fine print and stated by Himino. The bands indicate the 75 percent confidence intervals, while the broken lines indicate that the results are not statistically significant.  Yet the BOJ employed output gap, nominal wages, and the CPI (less fresh food).

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