Japan
Japan
Real Gross Domestic Product
Real Chained Gross Domestic Product, Quarterly Annualized Change, %, NSA, Updates Quarterly
Real Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
Japan
Unemployment Rate
Unemployment Rate, All Persons, Total Labour Force, %, SA, Updates Monthly
The Unemployment Rate measures the percentage of the labor force currently not working but actively seeking employment. Markets monitor the unemployment rate to assess the cyclical health of the economy and the likelihood that wage demands may increase inflationary pressures.
Japan
Consumer Prices
All Items, Core (All Items Excluding Fresh Food), Core-Core (All Items Excluding Food and Energy), Annual Change, %, SA
The Consumer Price Index is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. Statistics Japan reports an 'All Items' number that includes all categories in the calculation basket, a 'Core' number that strips out highly volatile fresh food prices, and a 'Core-Core' measure that removes fresh food and energy prices.
Japan
Policy Rate
Uncollateralised Overnight Call Rate (pre-1998: Official Discount Rate), %
The Bank of Japan Policy Rate refers to the base rate used by the central bank to implement or signal its monetary policy stance. It is currently represented by the “uncollateralised overnight call rate” charged when financial institutions lend and borrow short-term funds in the call markets, where financial institutions lend and borrow short-term funds, but previously referred to the interest rate charged on excess reserves. The Bank targets this rate to influence monetary variables in the economy, including consumer prices, exchange rates, and credit growth. The rate is reassessed on eight fixed dates each year.
Japan
Money Supply
M2 Money Supply, Annual Change, %, SA
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Japan
Central Bank Assets
Bank of Japan Total Assets, Trillions JPY, Updates Monthly
The Bank of Japan’s Balance Sheet is a financial statement that shows what the central bank owes and owns. The Bank’s assets consist primarily of Government of Japan and corporate bonds. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates – when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.
Japan
Debt Ratios
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of Gross Domestic Product at Market Value, Updates Quarterly
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Japan
Net International Investment Position
Net International Investment Position, Millions USD, Updates Annually
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
Japan
Currency Reserves
Official Reserve Assets, Foreign Currency Reserves (in Convertible Foreign Currencies), Billions USD, Updates Monthly
Currency Reserves show external holdings that are freely usable for settlement of international transactions, and are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in currency markets to affect exchange rates, and for other related purposes. Developed markets with widely used, freely tradeable international currencies typically provide reserve assets rather than engaging in reserve accumulation.
Latest Analysis
Latest Analysis
Rally Fades As Uncertainties Remain
28 May, 2025
Traders are trimming risk after yesterday’s relief rally took market valuations a little too far. A rebound across Treasuries, equity indices, and the US dollar – initially driven by the Trump administration’s...
Tumult Fades As Intense Trading Week Begins
27 May, 2025
Measures of risk appetite are improving this morning amid signs of an easing in last week’s bond market tantrum, and following a brief escalation in cross-Atlantic trade tensions. Equity markets are setting...
Tariff sabre rattling
25 May, 2025
• Tariff news. Threats of increased US tariffs on the EU rattled nerves on Friday. US President Trump pushed out the deadline this morning.• FX trends. US growth challenges & policy uncertainty weighs...
Yields Push Higher as Debt Worries Intensify
22 May, 2025
Treasury markets are extending their losses this morning on worries that funding strains could reach unsustainable levels after the House of Representatives passed President Donald Trump’s broad-reaching...
Dollar Retreats As Market Momentum Slows
21 May, 2025
The ‘Sell America’ trade is back in play this morning. The dollar is unwinding last week’s gains and is down against all of its major counterparts, US equity markets are setting up for a bruising open,...
Markets Retreat on Signs of Consumer Strain
15 May, 2025
The dollar is retreating as optimism surrounding the weekend’s trade deal continues to diminish and US consumers show signs of exhaustion, leaving investors to contemplate longer-term risks to the American...
‘Mar A Lago Accord’ Fears Unnerve Dollar Bulls
14 May, 2025
The dollar is extending its losses this morning, following reports that the United States and South Korea held talks on Seoul’s foreign exchange policies in early May – a development that may signal a...
Economic Scepticism and Soft Inflation Weigh on Dollar
13 May, 2025
Euphoria surrounding the weekend’s US-China tariff climbdown is fading this morning, and the dollar is retreating in the face of a third consecutive monthly undershoot in inflation data. Treasury yields...
US-China Trade Ceasefire Boosts Global Asset Prices
12 May, 2025
A palpable sense of relief is washing over global markets after the US and China agreed to temporarily cut most tariffs on each other’s goods ahead of further trade negotiations. North American equity...
Words vs actions
11 May, 2025
• Positive talks. Constructive talks between US/China over the weekend. But a deal may take some time. This may temper the markets excitement.• Market trends. Equity futures have opened positively. USD...