Japan's Ministry of Economy, Trade and Industry: Steel production is expected to decline by 2.4% year-on-year in the first quarter of next year.
On Thursday, Japan's Ministry of Economy, Trade and Industry stated that due to a slowdown in demand in the manufacturing and construction sectors, Japan's crude steel production is expected to decline by 2.4% in the first three months of 2025.
Japan's Leading Index Revised Higher in October
Kazuo Ueda: Japan is expected to make further progress in achieving its inflation target next year.
The Bank of Japan Governor Kazuo Ueda stated on Wednesday that the Japanese economy is expected to be closer to sustainably achieving the central bank's 2% inflation target next year.
Japan's Output Gap Expected To Reach +0.4% In FY2025
Kazuo Ueda reiterated concerns about Trump and the risks of the "Shuntou", but did not mention the interest rate hike next month.
Kazuhiro Ueda stated that before the next rate hike, it is necessary to carefully examine Trump's policy stance after taking office and the outlook for next year's wage negotiations. Although Ueda's remarks reflect the Bank of Japan's determination to continue raising interest rates, they did not indicate a specific timing. Currently, most Analysts expect the bank to raise rates by 25 basis points in January or March.
Japan plans to propose an unprecedented budget of 734 billion dollars, as the intertwining of the debt crisis and central bank policy shift becomes a global focus!
In response to the dual pressure of surging social security spending and rising debt repayment costs, the Japanese government will launch an unprecedented fiscal year budget preparation work starting in April, totaling up to 734 billion dollars.