The jobless rate of 5.1% was slightly better than expected.
Japanese deputy finance minister Yoshihiko Noda says he doesn’t expect the Japanese economy to go into a double-dip recession in the January-March quarter. Phew, that’s a relief.
The expectations were closer to +0.1% so this is yet another disappointing Japanese economic indicator.
Imports increased by 12% YoY in December and imports decreased by 5.5%. An interesting footnote to the data is that China has overtaken the US as Japan’s top export destination.
Fitch Ratings says it has no plans to change ratings on Japanese sovereign debt. It has a stable outlook on Japan, Reuters reports. S&P earlier put Japan on watch for a downgrade.
So we’re unlikely to see official Japanese intervention anytime soon to arrest yens’ recent strength. I doubt many really saw such a scenario as realisitic at present levels anyways. Might get a bit of Kampo buy interest, but that’s about it. … Continue reading
BOJ and government are following same policy direction to overcome deflation.
Japan economic recovery unlikely to falter Economic risks roughly balanced Will communicate closely with government BOJ board ultimately decides policy Global economic recovery likely to slow, Japan price falls ahead Pace of Japan economic recovery may briefly slow in H1 … Continue reading
The rate decision and statement will be released in around 5 hours time. No major changes are anticipated with the policy rate to stay at 0.1% and the bias towards further easing to remain.
Democratic Party of Japan leader Ozawa was questioned by prosecutors over the weekend, meaning the fund-raising scandal has reached the very highest levels of the new ruling party. Combined with reduced jitters over Greece and Bernadine today, the political news … Continue reading