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MNI BRIEF: BOJ Estimates Output Gap Narrowed In Q2

(MNI) Tokyo
MNI (Tokyo)

Japan's estimated output gap narrowed to -0.69 percentage points in Q2 from -1.02 pp in Q1, recording the ninth consecutive quarterly negative gap, the Bank of Japan estimated on Wednesday.

The output gap is still far from what BOJ officials predicted as they had expected it to turn positive around the second half of fiscal 2022 and then continue to expand moderately, with Japan’s economy following a growth path that outpaced its potential growth rate.

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Japan's estimated output gap narrowed to -0.69 percentage points in Q2 from -1.02 pp in Q1, recording the ninth consecutive quarterly negative gap, the Bank of Japan estimated on Wednesday.

The output gap is still far from what BOJ officials predicted as they had expected it to turn positive around the second half of fiscal 2022 and then continue to expand moderately, with Japan’s economy following a growth path that outpaced its potential growth rate.

Keep reading...Show less