Tag: Japan

The yen slid to as weak as 147.15 against the U.S. dollar after Ishiba told reporters that the current economic climate does not require an additional rate increase. The currency clocked its largest single-day decline since June 2022 during the session.

Japan’s benchmark Nikkei 225 index tumbled nearly 5% early Monday after the country’s ruling Liberal Democrats chose Shigeru Ishiba, a former defense minister, as the next prime minister.

Core inflation in Japan’s capital matched the central bank’s 2% target in September, data showed, a sign the economy is making progress in meeting the criteria for further interest rate hikes.

Japan’s economy grew at a slightly slower pace than initially reported in the second quarter, hurt by downward revisions in corporate and household spending that point to a bumpier second half for consumption and the central bank’s rate-hike plans.

Japan’s economy expanded by a much faster-than-expected annualised 3.1% in the second quarter, rebounding from a slump at the start of the year thanks to a strong rise in consumption and backing the case for another near-term interest rate hike.

Going into the Japanese market at this moment is akin to catching “a falling knife,” Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, told CNBC’s “Squawk Box Asia.”

Japan’s core inflation accelerated in May due to energy levies but an index that strips away the effect of fuel slowed for the ninth straight month, data showed on Friday, complicating the central bank’s decision on how soon to raise interest rates.

Japan’s exports surged 13.5% in May, faster than expected growth helped by a weak yen and strong demand in the U.S. and Asia.

Japan’s economy contracted less than initially reported in January-March on upward revisions to capital spending and inventory data, lending modest support to the central bank’s plans to raise interest rates again this year.

Data from Japan’s Ministry of Finance Friday confirmed the country’s first currency intervention since 2022, after the Japanese yen plunged to a 34-year-low in April.

Japan’s currency surged as much as 5 yen against the dollar on Monday, with traders citing heavy yen-buying intervention by Japanese banks for the first time in 18 months after the currency hit fresh 34-year lows earlier in the day.

Japan’s economy avoided a technical recession, revised government data showed on Monday, even though the upward change in the fourth quarter was weaker than expected and highlighted concerns about the sluggish economic recovery.

Consumer price index inflation in Japan’s capital rebounded from 22-month lows in February, increasing the prospect of sticky inflation in the country and putting any potential rate hikes from the Bank of Japan squarely in focus. 

For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.

Japan’s PPI records a slowdown from 0.3% yoy to 0.0% yoy in December, above expectation of -0.3% yoy. Nevertheless, this figure represents the lowest PPI reading since -0.9% yoy decline in February 2021.

Core inflation in Japan’s capital slowed for the second straight month in December as cost-push price pressures continued to ease, data showed on Tuesday, taking some pressure off the central bank to rush into exiting ultra-loose monetary policy.

Japan’s core inflation slowed sharply in November to a pace unseen in over a year, data showed on Friday, highlighting easing cost-push pressures that may give the central bank more time before phasing out its massive monetary stimulus.

Japan’s government on Thursday slightly raised its economic growth projections for this fiscal year from its previous estimates, as external demand is likely to more than offset weak domestic consumption, the Cabinet Office said.

Japan’s exports in November fell for the first time in three months dragged down by China-bound chip shipments, underscoring worries that slowing overseas economies will complicate policymakers’ efforts to wind back on stimulus.

PPI rose 0.3% year on year as pace slowed for 11th month