Economic calendar in Asia 14 January 2025 – clues for the next BOJ meeting

Japanese markets reopen today after a holiday on Monday.

Nothing on the data calendar is likely to move major FX around too much. Nevertheless, given the approach of the next Bank of Japan meeting (January 23 and 24) and the chatter of a rate hike (BOJ reportedly still mulling over January monetary policy decision) the Economy Watchers Survey will be eyed.

The past six months have shown fluctuations in economic sentiment among Economy Watchers, with periods of decline followed by modest improvements, indicating a cautious outlook on Japan’s economic conditions:

July 2024

• Current Conditions Index: The index stood at 47.8, indicating a slight decline in economic sentiment compared to the previous month.
• Outlook Index: There was a modest improvement, suggesting cautious optimism about future economic conditions.

August 2024

• Current Conditions Index: The index increased to 49.0, reflecting a marginal improvement in economic sentiment.
• Outlook Index: A slight uptick was observed, indicating continued cautious optimism among respondents.

September 2024

• Current Conditions Index: The index declined to 47.8, signaling a deterioration in economic sentiment.
• Outlook Index: A decrease was noted, reflecting growing concerns about future economic conditions.

October 2024

• Current Conditions Index: The index further declined to 47.5, marking the second consecutive month of decline.
• Outlook Index: The index dropped to 48.3, indicating increased pessimism about the economic outlook.

November 2024

• Current Conditions Index: The index improved to 49.4, unexpectedly exceeding market estimates and marking the highest figure since March.
• Outlook Index: The index rose to 49.4 from October’s three-month low of 48.3, supported by hopes of a moderate economic recovery despite ongoing cost pressures.

The Economy Watchers Survey is a monthly survey conducted by Japan’s Cabinet Office. Those two indexes referred to above:

• Current Conditions Index: Reflects respondents’ views on the current state of the economy.
• Outlook Index: Represents expectations for economic conditions over the next 2–3 months.

This snapshot from the ForexLive economic data calendar, access it here.

The times in the left-most column are GMT.

The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

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