Japan Economics Weekly Electricity rate hike to dilute government subsidies Seven of Japan's ten regional utility companies have applied to the government to raise electricity prices for households. If approved, headline inflation would still drop below the Bank of Japan’s 2%... 3rd February 2023 · 5 mins read
Japan Data Response Japan Labour Market & Activity (Dec. 2022) The unemployment rate stayed unchanged in December, but labour market conditions are beginning to betray signs of loosening. Similarly, the strong rebound in retail sales is likely to give way to... 31st January 2023 · 4 mins read
Japan Rapid Response Japan Retail Sales & Industrial Production (Dec. 2022) 31st January 2023 · 2 mins read
Japan Economics Weekly Funding tussle may scupper higher spending on babies PM Kishida’s plan to lift spending on childcare would take the total outlay to the highest in the OECD. However, this likely won’t have much of an impact on the stubborn decline in fertility. After... 27th January 2023 · 7 mins read
Japan Data Response Tokyo Consumer Prices (Jan. 2023) Tokyo inflation rose to 4.4% in January as fresh food and services inflation rose. But with the boost from the weaker yen fading and lower commodity prices due to feedthrough, inflation should fall... 27th January 2023 · 2 mins read
Japan Economics Weekly 10-year yield ceiling will be tested again soon 10-year JGB yields have traded well within the 50bp tolerance band since the BoJ maintained its policy settings on Wednesday. Even so, we still expect the Bank to jettison Yield Curve Control in April... 20th January 2023 · 4 mins read
Japan Data Response Japan Consumer Prices (Dec. 2022) Inflation hit 4% in December but due to the government’s energy subsidies we expect it to fall below the Bank of Japan’s 2.0% target by mid-year. 20th January 2023 · 2 mins read
Japan Data Response Japan External Trade (Dec. 2022) While the trade deficit narrowed further in December, most of that reflects falling import prices. Export volumes likely fell slightly and with the global downturn weighing on external demand, export... 19th January 2023 · 2 mins read
Japan Data Response Japan Machinery Orders (Nov. 2022) “Core” machinery orders fell to their lowest level since February 2022 in November, pointing to a contraction in spending on machinery and transport equipment in Q4 from Q3. The upshot is we now have... 18th January 2023 · 2 mins read
Event Drop-In: Is the BoJ gearing up to scrap yield curve control? 18th January 2023, 8:00AM GMT Speculation is mounting that the Bank of Japan is finally moving to end its yield curve control (YCC) regime following December’s surprise policy tweak. How likely is the Bank to take this step, what…
