Japan data shows April household spending fell from March, down 1.2% m/m

The Bank of Japan meets next week, June 13 and 14. It’s a ‘live’ meeting with some expectations of a rate hike or at least a trimmining of Japanese Government Bond purchases.

The data is mixed out of Japan, today we had April Household spending:

-1.2% m/m

• prior +1.2%

+0.5% y/y

• expected +0.5%, prior -1.2%

Authorities in Japan are hopeful that wage rises will boost consumption. Its too early to draw conclusions with the wage talks only just concluded (three-decade high wage hikes are the headlines, but are they enough?)

Japanese Prime Minister Kishida

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