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Japan Revises Economic Growth Forecast Down to 0.9% for Fiscal 2024
The GDP is expected to grow 3.0% in nominal terms, the Cabinet Office reported Friday.
Bank of Japan suspected market intervention, rare large-scale withdrawal of short-selling camp by hedge funds for over ten years.
During the week ending on July 16, the net short positions of Japanese yen in leveraged funds decreased by 38,025 contracts, the largest reduction since March 2011.
Japanese Yen Declines Despite Rising Odds of BoJ Raising Interest Rates
The Japanese Yen (JPY) remains weak on Monday, extending its losing streak to a third consecutive session.
Japan's Core Inflation Perks Up, Keeps BOJ Rate Hike Hope Alive
The core consumer price index (CPI), which strips away the effect of volatile fresh food prices, rose 2.6% in June from a year earlier, slightly below market forecasts for a 2.7% gain.
Japan Cabinet Office Cuts Fiscal '24 GDP Forecast
Due to slower consumer spending, Japan's gross domestic product (GDP) in fiscal 2024 started April 1 is now forecast to grow by 0.9% on year, revised downward from the previous outlook of 1.3%, the Cabinet Office disclosed Friday.
Japan Lowers Fiscal Year 2023 GDP Growth Forecast
The Japanese government has revised its fiscal year 2023 GDP growth forecast down to 1.3% from 1.5%, citing a slowdown in exports.