Japan: Stimulus will need to be provided, it’s just a question of when - TDS

Research Team at TDS, notes that a slew of data were out from Japan today, with most coming in near expectations.

Key Quotes

“The Job to Applicant ratio rose again pointing to a tighter labour market, the ratio nearing levels last seen in Sep’91, but not enough to create inflation. The  BoJ’s preferred measure of inflation, that strips out fresh food came in as per expectations, -0.4%/yr, well short of the 2% target.

The Tankan Index and Outlook surveys for Large Manufacturers were unchanged from the prior month but beat expectations, while for non manufacturing were below prior but met the market’s lower estimates. All in all, nothing to change the outlook for Japan. Stimulus will need to be provided, it’s just a question of when.”