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Reuters Tankan survey: manufacturers index +6 in May, first positive reading this year


Reuters Tankan sentiment index for major manufacturers +6

  • first positive reading this year
  • expected to increase further, to +8, in August

Service sector index 25

  • reached its highest level this year
  • seen at 24 in august

The strong readings could further fuel speculation that the BOJ may embark on normalizing its easing policy sooner rather than later. In return, of course, Bank of Japan Governor Ueda has repeatedly stated that inflation, supported by wage increases, must follow a sustainable 2% rate before the bank can consider an exit.

The Reuters tankan report is monthly and aims to outpace the Bank of Japan’s tankan report, which is quarterly

  • It surveys around 500 large and medium-sized non-financial companies

JPY

This article was written by Eamonn Sheridan at www.forexlive.com.


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