What's NewJapanese exports continue to expand, led by exports to China

Japan's export grew by 12% year on year in January 2018, accelerating from the 9% growth in December. Exports to China were particularly strong, growing by 31% (February 20th)

Click here for the full version of comments and chart functions.

Recently published reports

Latest February 15 2018, 20:00 JST

Moving Toward Self-Sustained Growth

JMA Monthly Chartbook is a new product we started in 2018. We continue to be positive on the growth outlook for Japan, forecasting Japan to grow at 1.6% in 2018, at the same pace as in 2017. In the February edition of the Monthly Chartbook, we present the Japanese economy through 30 charts, encompassing economic activity, inflation, politics, and longer-term issues. For each chart, there is a link that leads you to a corresponding interactive online chart so that you can explore issues further. The Chartbook also includes our latest economic projections.

Read more..

It is almost official. The Japanese government leaked their intention to re-appoint the BoJ governor Haruhiko Kuroda when his current term expires on April 8. What are the key challenges for him in the next five years? On the upside, Mr. Kuroda may need to engineer an exit from the current stimulative monetary policy. On the downside, there is the seemingly impossible task of how to devise additional stimulus if the Japanese economy faces a downturn under his watch. In our view, the latter is the ultimate challenge for Mr. Kuroda. While the current economic expansion may last for a few years, it is likely that a recession hits Japan and force the BoJ to devise an imaginative way, something beyond even beyond the current unconventional monetary policy, to save Japan from falling back to deflation again.

Read more..

After 2 days of equity market declines, Governor Kuroda was careful to maintain a reassuring tone when he spoke in the parliament on February 6. However, unless the equity market downturn becomes prolonged, we think the BoJ will start to hint at tapering BoJ's equity ETF purchases to prepare the market for an eventual tapering in 2019.

Read more..

In the press conference after the policy meeting, the BoJ Governor Kuroda seems to have put forward 1.5% as a potential trigger for an adjustment in the current monetary policy.

Read more..
January 19 2018, 19:00 JST

Japan on a reflation path in 2018

JMA Monthly Chartbook is a new product we are starting to publish in 2018. For the inaugural January 2018 edition, we present the Japanese economy through 34 charts, encompassing economic activity, inflation, politics, and longer-term issues. For each chart, there is a link that leads you to a corresponding interactive version that lets you explore issues further, providing more food for thought. The Chartbook also includes our latest economic projections. For 2018, we forecast Japan to post another robust growth close to 2%. We expect Japan to follow a path toward a full reflation in 2018. In our view, upside risks on inflation are currently underestimated. The access to the Monthly Chartbook is limited to our standard and corporate subscribers. If you are currently our free subscribers, please try our free 30 days trial to view the contents.

Read more..
New Features by JMA
Standard Banner
Future JMA Events
Online event: March 6(Wed), from 16:00 JST

JMA Monthly Brief

by Chief Economist Takuji Okubo. Register to Premium Account to participate.

Register Now