Japan's economy set for gradual recovery
This is what the Japanese government stated in its annual report.
OCBC Treasury Research noted:
June CPI came in at -0.2% yoy, below expectations and continued to indicate the authorities’ inability to fight deflation.
Meanwhile, in its annual report, the government stated that the economy is set for a gradual recovery going forward.
Separately, a former Ministry of Finance official indicated that the BOJ may want to consider buying Euro bonds as part of efforts to ease pressure on the JPY to appreciate.
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