Japan’s third-quarter growth slowed more than initially estimated and the nation posted a surprise current-account deficit in October, underscoring headwinds to Prime Minister Shinzo Abe’s efforts to cement a recovery.
Shoko Iwasaki looked for years for a tax-free way to pass down a lifetime of savings to her grandson. Prime Minister Shinzo Abe has offered the 71-year-old an answer with a program now helping unlock pensioners’ hoarded wealth.
Investors were unfazed by Moody’s Investors Service’s decision today to lower Japan’s sovereign rating, unlike in the U.S., where Standard & Poor’s roiled global markets when it cut the U.S. AAA ranking for the first time on Aug. 5.
Confidence among Japan’s large manufacturers rose to the highest since the early stages of the global credit crisis in 2007, as Prime Minister Shinzo Abe readies steps to cushion the economy from a sales-tax increase.
Japan’s wages rose for a fourth month as employers had staff work more hours instead of adding to payrolls, a trend that may sustain the recovery without reducing the economy’s reliance on exports to propel growth.
The Bank of Japan’s direct debt purchases from the government may be capped in the next financial year at about the current level, bucking forecasts for an increase of as much as 18 trillion yen ($185 billion).
Japan’s industrial output tumbled more than forecast to the lowest level since the aftermath of the record 2011 earthquake, bolstering the case for Prime Minister Shinzo Abe to unleash large-scale stimulus.
The strategist who predicted Japan’s 10-year bond yield would plunge to 0.5 percent now says it’s likely to reach a record 0.25 percent as a failure to meet economic targets may cost Prime Minister Shinzo Abe his job.