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
Markets Open On A Somewhat-Downbeat Footing
06 May, 2025
The dollar is retreating and North American equity futures are setting up for a second day of losses after a series of downbeat earnings outlooks from economic bellwethers like Ford and Palantir cast doubt...
Powering ahead
04 May, 2025
• Positive vibes. Upbeat sentiment on Friday. Reports bolstered expectations about US/China trade war de-escalation. Solid US jobs data also helped.• Market trends. US equities recorded 9th straight gain....
US payrolls in focus
01 May, 2025
• US trends. US equities rose, as did bond yields & the USD. US ISM better than expected. Reports about potential US/China trade talks also helpful.• Macro news. Dovish tilt from BoJ weighed on JPY....
Risk-Sensitive Asset Prices Climb As Yields Fall
01 May, 2025
Markets are rallying this morning on optimism surrounding the prospect of more easing from the Federal Reserve as well as the growing likelihood of trade “deals” between the United States and its partners....
US economic tariff pain
30 April, 2025
• Holding on. Some volatility but net changes in US equities & bond yields were modest overnight. USD index a bit firmer but AUD holds its ground.• US GDP. A large jump in imports ahead of tariffs...
Risk Appetite Falls As Stagflation Risks Stalk US Economy
30 April, 2025
A six-day improvement in risk appetite appears to be stalling out across the financial markets this morning, bolstering a “mean-reversion”* trade that has seen the dollar creep higher against most of its...
Tariff impacts starting to show
29 April, 2025
• US support. More tariff headlines. Sentiment improved with US equities & the USD rising. Bond yields declined. AUD & NZD slipped back.• AU inflation. Q1 CPI out today. Expected to show a further...
Easing Trade Tensions Support Dollar, Loonie Languishes on Still-Unknown Election Result
29 April, 2025
Market sentiment is holding firm this morning as earnings reports come in, the cadence of data releases increases, and trade tensions show further signs of easing. Treasury yields are holding steady, S&P...
Canadian Dollar Slides as Projections Show Carney’s Liberals Missing Majority
28 April, 2025
Mark Carney emerged victorious in this evening’s Canadian election – reflecting voter confidence in the Prime Minister’s technocratic background and his commitment to defending the country’s economic sovereignty...
Tariff uncertainty lingers
28 April, 2025
• He said, Xi Said. Confusion about whether US/China are in tariff talks. US equities consolidated overnight, while US yields & USD lost ground.• AUD rebound. AUD bounced back strongly the past few...