Bank of Japan December Meeting Summary: Wait to See Signs of Sustained Wage Hikes in Fiscal 2024 Before Considering Rate Hike
–Members Agree BOJ Needs to Maintain Easing to Support Positive Wages-to-Prices Cycle –A Few Members Warn Against Being Complacent about Upside Risks to Inflation By Max Sato (MaceNews) – Bank of Japan board members argued that they should wait until next spring (from March to May) to confirm whether annual labor talks will lead to […]
Japan November Jobless Rate Unchanged at 2.5% After Improving for 2nd Straight Month in October
–Higher Job Losses, Retirements on Month Offset by Fewer Quits for Other Openings, Flat New Job Seekers –Employment Up on Year for 16th Straight Month; Surge Led by Rebound in Manufacturing, Medical/Welfare Services –Hotels, Restaurants Continue Hiring Workers; Construction Jobs Down for 2nd Straight Month After Recent Gains –Number of Unemployed Posts 1st Year-on-Year Rise […]
Japan November Exports Post 1st Y/Y Dip in 3 Months on Softer Demand for Iron/Steel, Chip-Making Equipment but Autos Remain Up
–Imports Mark 8th Straight Y/Y Fall on Easing Energy Import Costs –Exports to China Down for 12th Straight Month on Semiconductors; Pace of Decline Slows –Exports to US Post 26th Straight Y/Y Rise; Those to EU Dip For 1st Time in 33 Months By Max Sato (MaceNews) – Japanese export values came in weaker than […]
Japan Govt Keeps View on Moderate Economic Recovery with Some Soft Spots After Last Month’s Downgrade Amid Sluggish Capex
By Max Sato (MaceNews) – Japan’s government Tuesday maintained its overall assessment after downgrading it last month for the first time in 10 months in light of sluggish capital investment, saying the economy is still recovering moderately but that the pickup in some areas is pausing, according to its monthly report released by the Cabinet […]
BOJ Keeps Easing Stance Under Yield Curve Control Framework After Making It More Flexible in Oct, July
–BOJ Repeats: To ‘Patiently’ Pursue Stable 2% Inflation –BOJ Maintains Negative Short-Term Rate, Zero Long-Term Rate; Keeps 1% Loose Upside Limit on 10-Year JGB Yield By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided unanimously, as widely expected, to maintain its seven-year-old yield curve control framework and retain its […]
Japan October Core Machine Orders Post 2nd Straight M/M Rise on Persistent Digitization Demand but Computer Orders Mixed After Recent Gains
–Core Orders Mark 8th Straight Y/Y Drop Despite Solid FY23 Capex Plans –Cabinet Office Keeps View: Machine Orders Pausing By Max Sato (MaceNews) – Japanese core machinery orders, the key leading indicator of business investment in equipment, unexpectedly posted a second straight monthly gain in October, up 0.7%, after rebounding an above-forecast 1.4% in September […]
Analysis: Bank of Japan Cautious About Lifting Negative Short-Term Rate Target Until Confirming Path to Higher Wages in April
By Max Sato (MaceNews) – Bank of Japan policymakers are expected to maintain the current easing stance for now as they are likely to refrain from raising interest rates at least until April, when they may be able to see a clearer sign that wages will continue rising substantially in the next fiscal year. In […]
BOJ December Quarter Tankan: Major Manufacturers’ Sentiment Posts 3rd Straight Rise on Improved Supply Chains but Outlook Cautious on High Costs, Labor Shortages
–Major Non-Manufacturers’ Confidence Up for 7th Straight Quarter –Many Sectors Expect Pullback in March in Payback for Recent Improvement –Large Firms’ Combined Fiscal 2023 Capex Plans Revised Down Only Slightly; Small Firms Raise Theirs Further By Max Sato (MaceNews) – Confidence among manufacturers and non-manufacturers in Japan all picked up more than expected in December […]
Japan November Producer Inflation Eases Further to 0.3% from October’s 0.9% on Utility Subsidies, Slower Global Demand
–November’s 0.3% Y/Y Rise Remains Lowest Since 0.9% Drop in February 2021 –Producer Prices Up 0.2% M/M for 1st Rise in 3 Months on Rebound in Fuels, Non-Ferrous Metals By Max Sato (MaceNews) – Producer inflation in Japan eased for the 11th straight month in November, slowing to a 0.3% rise on the year from […]
Preview: BOJ December Tankan to Show Major Manufacturer Sentiment Up for 3rd Straight Quarter on Improved Supply Chains, Lower Import Costs
–Major Non-Manufacturer Confidence Seen Unchanged; Inbound Spending High but Labor Shortages Bite –Firms in Many Sectors Likely to Be Wary of Near-Term Outlook Amid Slowing Global Growth –Large Firms Seen Revising Down Fiscal 2023 Capex Plans; Small Firms to Raise Theirs Further By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey […]