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2025

2024

2023

  • Public Finance Watch

    Public Finance Watch

    2 December 2024 420 KB PDF
    • Supplementary budget for FY24 approved by Cabinet and JGB issuance plan was revised
    • Once overall image is set, breakdown of calendar-based market issuance amount will be significantly revised from April 2025
  • Daiwa's Economic View - Outlook for Japan's economy, policy rate

    Daiwa's Economic View - Outlook for Japan's economy, policy rate

    26 November 2024 522 KB PDF
    • Japan’s economy continues to gradually recover, due in large part to domestic demand 
    • Expect gradual passing on of wage hikes to goods prices
    • BoJ’s phase for assessing overseas economies continues; expect next rate hike in Jan-Mar 2025 provided US economy remains strong
  • Daiwa’s Economic View

    Daiwa’s Economic View

    1 November 2024 461 KB PDF
    • Ueda’s Oct press conference: No longer using “enough time” phrase
  • Daiwa's Economic View

    Daiwa's Economic View

    31 October 2024 554 KB PDF
    • BoJ carefully charting its own path amid Japan’s political confusion
  • Daiwa's Economic View

    Daiwa's Economic View

    28 October 2024 561 KB PDF
    • What’s next for Japan? How will BoJ respond?
  • Daiwa's View

    Daiwa's View

    25 October 2024 603 KB PDF
    • Impact of Lower House election on JGB market
  • Daiwa's Economic View - BoJ's outlook

    Daiwa's Economic View - BoJ's outlook

    17 October 2024 591 KB PDF
    • Changes over past three months; start of US interest rate cuts not leading to further yen appreciation; Japan’s economy saw weak production and consumption in Jul-Sep, but moderate growth is likely to continue 
    • Growth rate forecast likely unchanged overall in BoJ Oct Outlook Report; Outlook for underlying inflation to remain around 2%, but upside and downside risks
    • BOJ board members differ on timeline for normalizing policy; Time to monitor conditions with BoJ’s Oct meeting after Japan election, before US election
  • Politics Watch

    Politics Watch

    3 October 2024 386 KB PDF
    • Ishiba’s appointment as new prime minister could raise approval ratings for administration