Japan firms expect CPI to rise 2.6% a year from now – BoJ Tankan Survey

Anil Panchal FXStreet

“Japanese companies expect consumer prices to rise an average 2.6% a year from now, lower than their 2.8% projections three months ago,” per the Bank of Japan’s (BoJ) quarterly Tankan survey for the second quarter (Q2) of 2023.

That said, the headline Tankan Large Manufacturing Index jumps to 5.0 versus 3.0 expected and 1.0 previous readings.

With this, Japan’s big manufacturers' sentiment improves for 1st time in seven quarters.

Additional details

Firms polled by the Bank of Japan (BOJ), as part of its detailed "Tankan" survey for June, also said they expect consumer prices to rise an annual 2.2% three years from now and an annual 2.1% five years from now.

Japan's big non-manufacturers' business sentiment hits the highest level since June 2019.

Big manufacturers' business sentiment hits the highest level since December 2022.

Japan all firms see the Dollar averaging 132.43 yen for Financial Year (FY) 2023/24.

Japan all firms see the Euro averaging 140.11 yen for FY 2023/24.

USD/JPY picks up bids…

USD/JPY regains upside momentum after reversing from the eight-month high, mildly bid near 144.35 amid the early hours of Monday’s Asian session.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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