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
Dollar Climbs On Trade Deal With EU, Traders Brace For Havoc Ahead
28 July, 2025
The dollar is outperforming all of its major counterparts after the US reached a trade deal with the European Union, reducing uncertainties facing businesses and investors on both sides of the pond. Treasury...
Let's make a deal
27 July, 2025
• Dealmaker. Trade optimism supported US equities & USD at end of last week. AUD & NZD drifted a little lower. EUR ticked higher this morning.• US/EU deal. Over weekend US/EU announced a 15% tariff...
Earnings and Trade Optimism Spreads, Boosting Risk Assets
24 July, 2025
Risk-sensitive assets are looking buoyant this morning as perceived tail risks recede and investors turn more optimistic on the direction of global growth. The US dollar is up slightly, Treasury yields...
Risk Appetite Improves On US-Japan Trade Deal
23 July, 2025
A modest improvement in risk appetite is washing across markets after a trade deal between the US and Japan proved less economically-damaging than feared. The dollar and Treasury yields are holding steady,...
Intra-Day Volatility Falls As Newsflow Grinds To A Halt
22 July, 2025
Currency markets are turning in a mixed performance this morning amid an utter lack of new volatility catalysts. The dollar is holding steady in line with placid Treasury yields, most major currencies...
Positive vibes
21 July, 2025
• Upbeat tone. No news has been good news. US equities rose, while bond yields & USD slipped back. AUD a bit higher at start of new week.• RBA guidance. RBA meeting minutes out today. Governor Bullock...
Yen Climbs, Dollar Retreats As Data-Light Week Kicks Off
21 July, 2025
Amid a quiet start to the week, the Japanese yen is finding modest support even after Prime Minister Shigeru Ishiba’s governing coalition lost its majority in the Upper House, suggesting that currency...
Hanging on
20 July, 2025
• Hanging on. A quieter end to last week. US equities consolidated. USD a bit softer. AUD & NZD ticked up but still lost ground over the week.• US trends. US data has generally been a bit better than...
Dollar Rebounds After Short-Lived Selloff
17 July, 2025
The dollar is resuming its upward climb and bond markets are stabilising after suffering a short-lived bout of extreme volatility early in yesterday’s session on speculation surrounding the potential firing...
Fed Chair in the firing line
16 July, 2025
• Market jolt. Reports & denials about whether Chair Powell may be removed generated a burst of volatility. On net, US equities rose & USD weakened.• Fed changes. Fed Chair can’t be fired...