BoJ raises economic assessment for six of Japan’s nine regions

In a quarterly report reviewing the Japanese regional economies, the Bank of Japan (BoJ) raises its assessment for six of the country’s nine economic regions.

Additional takeaways

Maintains assessment for three of Japan’s nine regions in quarterly report.

Economy picking up, or recovering moderately, for all regions.

Many regions saw exports, output moving sideways.

Many firms said they wanted to look at price developments, what rivals do in deciding by how much they would raise wages next year.

Many firms expect to keep hiking wages given structural labor shortages.

Many regions said companies’ price hikes to pass on costs was moderating, though some saw firms setting prices on expectations of future wage hikes.

Some branch managers said companies saw weak yen, rising crude oil prices as heightening cost pressures.

Market reaction

At the time of writing, USD/JPY is keeping its range intact near 149.80, down 0.07% on the day.