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
Groundhog day
09 June, 2026
• Market wobbles. Renewed tensions in the Middle East dampen sentiment. Tech stocks slip back again. AUD still on the backfoot. AUD underperforms.• Macro news. AU consumer confidence falls further below...
Cautious recovery unfolds as tech sector selloff pauses and Mideast tensions ease
09 June, 2026
Good morning. Financial markets are staging a muted recovery as the selloff in US technology stocks eases and tensions in the Middle East ratchet lower. Major indices are on course to extend yesterday’s...
Volatile markets weigh on the AUD
08 June, 2026
• Market swings. Modest improvement in sentiment overnight after risk aversion on Friday. Markets bring forward US rate hike pricing. AUD near 2-month low.• US data. Better than expected US jobs report...
The beautifully distracting game
08 June, 2026
Of all the rituals of finance most ripe for disruption by artificial intelligence, few are as deserving as the quadrennial spectacle of sell-side World Cup analysis. Like clockwork, the world’s biggest...
Dollar advances as financial conditions tighten and risk aversion sets in
08 June, 2026
Good morning. The dollar is trading near a two-month high, lifted by three forces pulling in the same direction: a blockbuster payrolls report that has triggered a hawkish reappraisal of the Federal Reserve’s...
US and Canadian jobs reports crush expectations
05 June, 2026
US labour markets gained momentum in May, firming market expectations for a rate hike from the Federal Reserve by year end. According to the Bureau of Labor Statistics, 172,000 jobs were added in the month—representing...
Markets reverse lower ahead of key payrolls report
05 June, 2026
Markets are turning defensive ahead of the weekend as the war in the Middle East shows little sign of progress and investors grow more cautious on artificial-intelligence stocks. Brent and West Texas Intermediate...
Another Iran escalation whipsaws markets
03 June, 2026
Good morning, and happy Groundhog Day*. The dollar is strengthening and Treasury yields are rising as diplomatic efforts to reopen the Strait of Hormuz falter once again. Iran and the United States said...
Global inflation pressures building
02 June, 2026
• Holding on. Modest financial market moves. US equities & oil tick up. NZD a bit softer. AUD edges up slightly & outperforms on the crosses.• Data flow. More signs US jobs market is holding up....
Iran headlines dominate currency market price action
02 June, 2026
Treasury yields and the dollar are retreating from yesterday’s highs after Hezbollah and Israel agreed to temporarily halt cross-border fighting, giving Iranian officials cause to return to the bargaining...