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 […]
Japan May CPI Annual Rate Remains Above 2% on Fuels, Food, Appliances
By Max Sato –Core CPI +2.1% Y/Y for May, April Largest in Over 13 Years If 2014 Sales Tax Hike Impact Excluded–Total CPI +2.4% Y/Y for May, April Largest in Over 30 Years Excluding Impact of 2014, 1997 Sales Tax Hikes–Pace of Energy Price Rise Slower; Household Durable Goods Prices on Uptrend (MaceNews) – Consumer […]
Japan Govt Keeps View Economy Showing Signs of Pickup as Eased Covid Rules Prop Up Sentiment
By Mas Sato (MaceNews) – Japan’s government Monday maintained its economic overview for June after upgrading it in April as the drag from the pandemic appears to have waned while continuing to warn about the impact of the protracted Ukraine war, Covid restrictions in China, supply bottlenecks and fluctuating financial markets, according to its monthly […]
Analysis: BOJ Easing Stance Set in Stone, Abenomics Ghost Haunts Japan’s Policymaking
By Max Sato (MaceNews) – The latest message from Bank of Japan Governor Haruhiko Kuroda points to the bank’s long-term commitment to maintaining its monetary easing stance despite a rush of interest rate hikes by other central banks, as cyclical and structural issues are keeping Japan’s domestic demand sluggish and consumer prices relatively low. In […]
Japan May Exports Post 15th Straight Y/Y Rise on Reopening Demand for Steel, Electronic Parts
–Imports Hit Fresh Record High on High Energy Costs, Leading to 10th Straight Trade Deficit –Exports to China Mark 2nd Straight Y/Y Drop on Covid Lockdowns By Max Sato (MaceNews) – Global reopening demand for iron and steel and semiconductors continued driving Japanese exports to surpass year-earlier levels for the 15th month in a row […]
Japan April Machine Orders Mark Unexpectedly Sharp Rise on Computer Demand
–Japan Government Upgrades View: Machine Orders Showing Signs of Pickup Vs. Previous Assessment that Pickup Stalling By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, unexpectedly posted a second straight sharp monthly gain in April on solid demand for upgrading computer systems, raising hopes that orders for […]
Japan May Producer Inflation Eases on Slower Crude Oil Rise After Hitting 41-Year High in April
–BOJ’s Kuroda Committed to Easing Stance Despite Weak Yen, Seeing Slower Prices in FY23 By Max Sato (MaceNews) – Producer inflation in Japan eased in May to 9.1% on the year as crude oil and non-ferrous metal prices fell from the previous month, reflecting recent international markets, but April’s 9.8% spike, although downwardly revised from […]
Japan Q1 GDP Revised Up Slightly on Inventory Buildup
–Higher Private Inventories Vs. Initial Estimate Offset Weaker Capex –Private Consumption Flat, Revised Up to Avoid Slight Drop –Q2 GDP Expected to Show Rebound on Eased Covid Rules but Exports Slow By Max Sato (MaceNews) – Japan’s economic slump in the January-March quarter, reflecting Covid restrictions on consumer spending and a surge in import costs, […]
Preview: Japan Q1 GDP Slip Seen Revised Down Slightly on Softer Capex
–Forecasts for Weaker Capex, Higher Private Inventories Based on MOF Survey –Private Consumption Seen Flat, Unrevised from Preliminary Data –Q2 GDP Growth Expected to Rebound As Covid Restrictions Eased By Max Sato (MaceNews) – Japan’s economic slump in the January-March quarter, which was caused by the drag from Covid restrictions on consumer spending and a […]
Japan April Household Spending Dips Y/Y on Car Supply Delays, Less Cooking at Home
–Spending Up M/M As People Dine Out, Travel More Freely After Covid Rules Eased By Max Sato (MaceNews) – Japan’s real household spending posted the second straight year-on-year drop in April as supply bottlenecks hampered car purchases and people dined out more freely, spending less on groceries compared to a year earlier when a Covid […]