Abe & Co gettting bullish on the Japanese economy
- Japan’s economy is gradually recovering
- Consumer spending is “recovering” (change from “gradual recovery”)
- Consumer price assessment left unchanged
The upgrade was largely expected but it’s not as bullish as it could be. Industrial production and Capex assessments were left unchanged at “gradually expanding”.
Still, the yen has seen some persistent buying today, although it’s not been huge. USDJPY is down to a 110.49 low.