Q1 GDP data from Japan confirmed the enormous contraction:
Japan’s Q1 GDP (revised) -1.8% (annualized) – massive economic slump
Almost as if in response the draft of the Jap[anese government’s annual economic blueprint has once again been sighted by Reuters.
This happened last week too:
Japan’s government to warn of weak yen
This time around:
Japan’s government will
highlight the need to work closely with the central bank and
guide policy “flexibly” in the wake of soft consumption and
uncertainty over the inflation outlookgovernment said consumption “lacked momentum”the outlook on pricesis unclear due in part to the effect of recent yen declines flagged lingering overseas risks such as the fallout from monetary tightening by central banks across the globe, and worries about soft Chinese growth
Japan PM Kishida
This article was written by Eamonn Sheridan at www.forexlive.com.
