Japan Q2 GDP Up on Eased Covid Rules, China Lockdown Limiting Gain

–Japan GDP Posts 3rd Straight Q/Q Growth as Slight Q2 Drop Revised to Slight Rise–People Dining Out, Traveling More Since Restrictions Lifted in Late March–Capex Makes Up for Q1 Drop on Solid Digitization, Greener Energy Demand–Q3 GDP Growth Faces Headwinds: Domestic Covid Spike, Slower Global Growth By Max Sato (MaceNews) – Japan’s gross domestic product […]

Japan PM Kishida Shuffles Cabinet as Support Sags Over Ruling Party Ties to Cult

By Max Sato (MaceNews) – Japanese Prime Minister Fumio Kishida shuffled his cabinet Wednesday, seeking to shore up sagging voter support amid revelations that ruling party lawmakers have done little to counter what some lawyers say are illegal activities by the Unification Church, which has cultivated close ties with conservative politicians for over five decades. […]

BOJ Kuroda Repeats No Plans for Rate Hike, Rapid Yen Drop Undesirable

By Max Sato (MaceNews) – Bank of Japan Governor Haruhiko Kuroda made it clear once again that the bank’s policymakers are “not considering raising interest rates at all” given their latest outlook that domestic inflation is unlikely to be anchored around its 2% target in the next few years. He told a post-meeting news conference […]

BOJ Keeps Easing Stance; Revises Up CPI Forecast, Sees Slower FY22 GDP Growth

By Max Sato (MaceNews) – The Bank of Japan said Thursday it is maintaining its super-low interest rate targets along the yield curve and large asset purchases, as expected, to help the economy fully recover from the pandemic-caused slump and anchor inflation around its stable 2% target. To keep speculative market forces from pushing the […]

Preview: BOJ June Tankan Sentiment Mixed; Manufacturers Down, Services Up

–Covid Lockdowns in China, High Producer Costs Weigh on Factory Operators –Services Seen Upbeat on Japan’s Eased Covid Rules, Summer Spending Hopes –Business Confidence Projected to Improve in September Amid Uncertainty –Firms, Large and Small, Expected to Revise Up Their Combined FY22 Capex Plans By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan […]

BOJ June Meeting Summary: Need Easing for Stable 2% Inflation, Wage Hikes  

–Board Members See Uncertainty from China’s Covid Policy, Other Risks–Members Note Pickup in Service Sector on Japan’s Eased Covid Rules By Max Sato (MaceNews) – Bank of Japan board members argued that continued monetary easing is necessary to anchor 2% inflation in a “stable” manner, and to achieve that goal, fiscal support and labor market […]