Japanese Household Spending YoY (Mar) Y/Y -2.9% vs. Exp. -1.5% (Prev. -1.8%)
The Japanese household spending data showing a year-on-year decline of 2.9% versus an expected decrease of 1.5% indicates a larger-than-anticipated drop in consumer demand.
BoJ Summary of Opinions from the April meeting noted a member said that given real interest rates are at a significantly low levels, it is appropriate for the BoJ to continue raising policy rates
PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: SoftBank reported record-high FY net income and revenue
Japanese Household Spending YoY (Mar) Y/Y -2.9% vs. Exp. -1.5% (Prev. -1.8%)
US President Trump posts "I am asking Congress to pass that Bill, the 21st Century ROAD to Housing Act, which would ensure that homes are for people, not Corporations"
Fed Chair nominee Warsh clears Senate procedural hurdle and a Senate confirmation vote is expected as early as Wednesday
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This miss could reflect broader economic weaknesses, potentially influencing Bank of Japan policy and impacting commodities, particularly those sensitive to consumer behavior.
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