Reported about 1 year ago
A Bank of Japan tankan survey revealed that Japanese big manufacturers' confidence reached a more than two-year high in June, surpassing market forecasts. However, the service sector's sentiment worsened due to escalating costs driven by the weak yen. The findings indicate a mixed economic outlook for Japan, with an unscheduled downgrade to historical GDP data showing a larger contraction in the first quarter. This complicates the BOJ's decision on when to raise interest rates, with analysts noting that while there is an increase in corporate inflation expectations, the overall sentiment may not support an early rate hike.
Source: YAHOO