Japan’s government considering lifting FY2022 economic growth forecast – NHK

Dhwani Mehta FXStreet

The Japanese government is mulling a lift to its economic growth forecast for fiscal year (FY) 2022 to take into account the effects of its record $490 billion stimulus package, Reuters reports, citing headlines carried by the country’s public broadcaster NHK.

NHK noted: “In a mid-year review in July, the government projected real gross domestic product (GDP) growth of about 2.2% for the fiscal year starting in April 2022. With the spending package aimed at helping businesses and households weather the pain of the COVID-19 pandemic, it now estimates a tailwind of about 5.6% for real GDP from this fiscal year to next.”

USD/JPY reaction

USD/JPY is keeping its bid tone intact around 113.00 amid rebounding Treasury yields, which lift the US dollar’s demand. The spot was last seen changing hands at 112.98, up 0.17% so far.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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