Bank of Japan Q1 Tankan survey shows a small rise in inflation expectations

The BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with Read this Term's Tanki Keizai Kansoku Chousa (Tankan Tankan The Tankan survey is a quarterly survey conducted by the Bank of Japan (BOJ) to measure the economic health of Japanese companies. The survey is widely considered to be one of the most important indicators of the Japanese economy, as it provides a detailed snapshot of the current and expected business conditions among large manufacturers, non-manufacturers and small and medium-sized enterprises (SMEs) in Japan.The survey is based on a sample of approximately 10,000 companies and covers a wide ra The Tankan survey is a quarterly survey conducted by the Bank of Japan (BOJ) to measure the economic health of Japanese companies. The survey is widely considered to be one of the most important indicators of the Japanese economy, as it provides a detailed snapshot of the current and expected business conditions among large manufacturers, non-manufacturers and small and medium-sized enterprises (SMEs) in Japan.The survey is based on a sample of approximately 10,000 companies and covers a wide ra Read this Term) reports on the Short-Term Economic Survey of Enterprises in Japan

Corporate price expectations survey:

• Japan firms expect consumer prices to rise 2.8% a year from now vs +2.7% in previous survey
• Japan firms expect consumer prices to rise an annual 2.3% 3 years from now vs +2.2% in prev survey
• Japan firms expect consumer prices to rise an annual 2.1% 5 years from now vs +2% in prev survey

Other:

• Large Manufacturing Index Q1: 1 (expected 3; prior 7) ... lowest for this since December 2020, after 5 concwsecutive quarters worsening too
• Large Manufacturing Outlook Q1: 3 (expected 3; prior 6)
• Large Non-Manufacturing Index Q1: 20 (expected 20; prior 19) ... highest for this since December 2019
• Large Non-Manufacturing Outlook Q1: 15 (expected 17; prior 11)

and:

• Small Manufacturing Index Q1: -6 (expected -6; prior -2)
• Small Manufacturing Outlook Q1: -4 (expected -6; prior -5)
• Small Non-Manufacturing Index Q1: 8 (expected 7; prior 6)
• Small Non-Manufacturing Outlook Q1: 3 (expected -2; prior -1)

All Industry Capex Q1: 7.9% (expected 14.2%; prior 19.2%)

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The big news for the yen earlier was the OPEC+ output cut, which sent yen lower.

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OIL update: