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MNI INSIGHT:Weak Q2 GDP Would Reinforce BOJ Easy Policy Stance

(MNI) Tokyo
TOKYO (MNI)

The automobile sector is key for assessing the pace of Japan's economic recovery.

Lingering supply-chain disruptions and dour consumer spending as energy and food costs bite amid weak wages will keep Bank of Japan officials focused on easy policy as an expected second quarter rebound could be tepid, MNI understands.

A rebound from a first quarter contraction is still expected, MNI understands, but BOJ officials are wary that improving the output gap is already delayed and the trade strains from China's lockdowns, even with Shanghai possibly easing curbs in June, will still flow through to May and possibly June data, See: MNI: Govt Official: Japan Q2 GDP Hit By Slowing China Economy.

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Lingering supply-chain disruptions and dour consumer spending as energy and food costs bite amid weak wages will keep Bank of Japan officials focused on easy policy as an expected second quarter rebound could be tepid, MNI understands.

A rebound from a first quarter contraction is still expected, MNI understands, but BOJ officials are wary that improving the output gap is already delayed and the trade strains from China's lockdowns, even with Shanghai possibly easing curbs in June, will still flow through to May and possibly June data, See: MNI: Govt Official: Japan Q2 GDP Hit By Slowing China Economy.

Keep reading...Show less