While we wait for Asia to get active, a look at yesterday's snippets of info from Japan
- The Bank of Japan minutes (April meeting) confirmed (once again) the bank is a long way from its inflation target (most members saying momentum towards the 2% inflation target is more or less absent - they didn't say absent but you know that's what they are thinking) and that the bank is not going to veer off its accommodative course any time soon
Also yesterday we got data for activity across all sectors: Japan data - All Industry Activity Index for April: 2.1% m/m (the construction sector up its most since last century! ... the 1990s ... the extra budget stimulus kicking in)
- That's the highest for a month since 2000
- It comes after data earlier this month on industrial output at its best since 2011 & tertiary activity at its best for three years
Expect some 'give back' in coming months, but the trend is looking better for Japan growth.
