In its latest quarterly regional economic report released on Monday, the Bank of Japan (BoJ) upheld its assessment for all nine regions of Japan, indicating a consistent recovery across the country.
Key highlights from the report include:
All regions reported moderate or steady economic recovery.
Many regions noted strong consumption, particularly in services, while some also highlighted increasing output, especially in sectors like automobiles.
Several branches emphasized the growing uncertainty around trade policies, with firms in their regions expressing concern over potential impacts on output and profits.
Many regions expect strong pay hikes from a broad range of firms this year, although smaller firms remain cautious due to challenging profit conditions.
The report also noted that the pass-through of higher import costs continues across regions, with many firms considering or implementing price hikes to offset rising labor costs.
In contrast, some regions reported that certain firms are either cutting prices or introducing more low-cost products due to soft consumption.
The report’s findings led to a pullback in the USD/JPY pair, which is currently trading around 146.00, down 0.58% on the day.
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