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Bloomberg Daybreak: Asia Edition
Japanese Stocks Rise on US Growth Optimism, BOJ Preview
Sep 20, 2024
In this discussion, Sayuri Shirai, a Professor of Economics at Keio University, shares insights on Japan's economic challenges, including inflation and consumer behavior. Garfield Reynolds, Bloomberg's Chief Rates Correspondent for Asia, highlights the resilience of Japanese banks in a changing global economy. Jon Lieber from Eurasia Group delves into US-China relations and how the upcoming elections may reshape tariffs and trade dynamics. The trio also examines the implications of unexpected US job claims and GDP forecasts on global markets.
22:53
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Quick takeaways
- Japan's economy faces sluggish growth with inflation impacting consumer budgets, while the BOJ remains cautious in its monetary policy decisions.
- Political discourse ahead of the Liberal Democratic Party elections suggests a focus on economic support despite constraints from Japan's high public debt.
Deep dives
Sluggish Growth in the Japanese Economy
Japan's economy is currently experiencing sluggish growth, with real GDP only recently recovering to pre-COVID levels. Despite a slight improvement in the yen's value, the currency remains depreciated, which has negatively impacted Japanese stock prices. The Bank of Japan (BOJ) is cautious about raising interest rates due to this slow economic recovery and weak domestic demand. Consequently, there is a prevailing sentiment that the BOJ will prioritize stability and exercise caution in its monetary policy approach.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode