Japan PM Abe, speaking in London:

  • Says corporate wage increases have been encouraging
  • Says wages and employment must improve visibly to overcome deflation
  • Business sentiment among small, medium sized companies is positive
  • Still need to be cautious about risk of consumption tax hike dampening consumption
  • Consumption has not slowed as much as feared after tax hike

Reuters headlines from Abe’s speech.

No response from yen, hardly surprising. There is some economic data due from Japan today which might give us some movement.

More from Abe:

  • Says Japan is close to escaping defaltion
  • Japan seeks to balance growth and austerity packages
  • Says that stable, inexpensive energy is key to economic growth

This latter headlines crossing on Bloomberg