EconWatch.com > Japan downgrades view of economy | www.bullfax.com
[Bullfax.com - Market News & Analysis] Japan downgraded its monthly economic assessment on Tuesday for the first time in 20 months, citing the rapid rise of the yen and a slowdown of exports and production.The Japanese currency has in recent weeks traded at 15-year highs, hammering the competitiveness of the crucial export sector, despite a yen-selling intervention by Japan's central bank last month.Prime Minister Naoto Kan's Cabinet Office in its October report said that "the economic movements appear to be pausing recently," a turnaround from last month when it said the economy "continues picking up".
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[Ghana Business News] Japan government says economy at 'stand still' : Ghana Business News: The rising yen and a slowdown in global demand for Japanese exports was blamed for the downgrade. In recent months, the government has insisted that the economy is “picking up”.
[Stock Market News] UPDATE 1-Japan government says economy at standstill | Stock ...: Japan's economic growth slowed from an annual clip of 5percent in January-March to 1.5 percent in the second quarter,with analysts expecting it to hit a soft patch ahead as theglobal economy slows and stimulus-driven consumption runs itscourse. ($1=81.26 Yen) (Editing by Edmund Klamann and Neil Fullick)
[Forex Trading News | AlecHamilton.com] Japan Cuts Its Economic Evaluation for First Time in 20 Months ...: "Prime Minister Naoto Kan's government is stepping up pressure on the Bank of Japan to spur growth as it tries to jump start a slowing economy under..." Japan Says Economy Is 'Picking Up,' Keeps Evaluation .
[Finfacts Ireland Business & Finance Portal] Markets News Afternoon: Fitch downgrades Ireland; US private ...: Fitch also put a negative outlook on the rating, meaning a further downgrade is more likely over the next couple of years. It said the negative outlook was due to uncertainty about the timing and strength of an economic recovery and efforts to cut the budget deficit.
[Savings In Florida] Acetrader-Daily Market Outlook 31-5-2010 | Savings In Florida: Despite initial firmness in Australia after Thursday’s short-covering strong rise to 1.2395 in NY on rebound in U.S. equities, short-term speculators pushed euro lower in Asian morning after triggering stops at 1.2320, then 1.2300 and hit a low of 1.2281 before rallying back to 1.2454 in European morning, however, the single currency weakened again on renewed selling by various accounts and nose-dived to 1.2265 in NY afternoon after Fitch cut Spain’s sovereign debt rating.
[Stock Market News] Japan consumer mood worsens in September | Stock Market News: Following is a comparison with previous months: SEPT AUG JULY JUNE General households 41.2 42.4 43.3 43.5 .Japan PM Kan: can't overlook excessive forex moves;
[Bullfax.com - Market News & Analysis] Japan eyes new 58 billion dollar stimulus: report | www.bullfax.com: Japan's ruling party on Wednesday unveiled its proposal for a 4.8 trillion yen stimulus plan to help boost a flagging economy beset by a strong currency and persistent deflation.The measures, worth 58 billion dollars, will focus on five areas set last week by Prime Minister Naoto Kan: employment, economic growth, social welfare, stimulating regional economies and deregulation.The Democratic Party of Japan also recommended that Kan's government set up a national investment fund with the country's vast currency reserves, but did not elaborate, Dow Jones Newswires reported.
[AMPONTAN] Japan's latest political ephemeron: Hes wanted to climb that greasy pole to the top since his early 20s, 40 years ago, and now its beginning to look as if his days at the Kantei will be as brief as the lifespan of a red-eyed cicada. Even if he were to win reelection as the Democratic Party president in the mid-September ballot”which is not a lock”few expect him to last much longer than next spring.
[VietNam Business] VietNam Business: BOJ vows timely action but few clues on next move: "So far, the market expectation is that Ozawa would pursue more fiscal expansion than Kan, and the market has to some extent priced in the possibility that Ozawa may become the next prime minister," said Makoto Yamashita, chief Japan interest rate strategist at Deutsche Securities.
[Notayesmanseconomics's Blog] Why has the Bank of Japan cut interest rates which were already so ...: Japanese 30 year government bond yields are only 1.79%. As I have reported in the past in the section I have on the Japanese economic crisis one of the main weapons of QE has done little good and looking further afield I feel that it is a lesson other policymakers should have learned from. In effect this is part of my critique of Adam Posen’s recent speech that I published here on the 29th September as I feel he needs to explain why he feels that the results will be different this time if he is allowed to set sail on the good ship QE2.
[Business 360] Business 360: Get to grips with the issues affecting world ...: Other than their very high savings rate, the Japanese economy is facing huge struggles. With their aging demographic and low immigration rate, deflation, a debt to GDP level of nearly 200% that is second highest in the world after Zimbabwe and dropping exports because of the strong yen, it is a wonder that their currency has gained against the US and Canadian dollars.
[The Center of the Universe] The Center of the Universe » Blog Archive » Japan Recap- Prime ...: With perhaps the world’s largest public debt, severe prior downgrades by the ratings agencies, perhaps the strongest currency in the world, mild deflation, and yet ten year JGB’s hovering around 1%, you’d think the historical evidence alone would convince them there is no solvency or funding or ’sustainability’ issue.
[Blancer.com Tutorials and projects] Japan to push $60bn into economy | Blancer.com Tutorials and projects: Despite the additional spending measures in the supplementary budget, Mr Kan has made clear that Japan must cut its budget deficit in the medium term.
[Finance Blog] Yen Drops Back After Japan Comments on Currency; IFO Ahead: Finance Minister Yoshihiko Noda said today that the government would consider ”appropriate action on the currency, and that movements had been ”one-sided. Late yesterday saw verbal interventions on the yen from both Noda and Prime Minister Naoto Kan, who said ”steep currency gains are undesirable, initially to no effect whatsoever. Their stance has changed noticeably from earlier in the week when they were at pains to point out that PM Kan and Bank of Japans Shirakawa hadnt even discussed the possibility of intervention.
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