JPY News

Japan posted a merchandise trade deficit of 1,302.11 billion yen in December, the Ministry of Finance said on Monday - sliding into the red for the 17th consecutive month.

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Industrial output in Japan added a seasonally adjusted 1.1 percent in December compared to the previous month, the Ministry of Economy, Trade and Industry said on Friday.

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Overall nationwide consumer prices in Japan gained 1.6 percent on year in December, the Ministry of Internal Affairs and Communications said on Friday.

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The monetary base in Japan spiked 51.9 percent on year in January, the Bank of Japan said on Tuesday, coming in at 200.414 trillion yen.

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Japan saw a current account deficit of 638.6 billion yen in December, the Ministry of Finance said on Monday.

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Bank lending in Japan was up 2.5 percent on year in January, the Bank of Japan said on Monday, standing at 413.032 trillion yen.

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Core machine orders in Japan plummeted a seasonally adjusted 15.7 percent on month in December, the Cabinet Office said on Wednesday - worth 744.1 billion yen.

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The M2 money stock in Japan jumped 4.4 percent on year in January, the Bank of Japan said on Wednesday, coming in at 866.5 trillion yen.

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Japan's gross domestic product added 0.3 percent on quarter in the fourth quarter of 2013, the Cabinet Office said in Monday's preliminary reading - expanding for the fourth straight quarter.

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2013-02-18 03:30 GMT | [JPY - Monetary Policy Statement]

• past data is n/a
• forecast data is n/a
• actual data is n/a according to the latest press release

More hawkish than expected = good for currency (for JPY in our case)

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Yen Dropped Against Dollar After BOJ's Statement

Yen dropped against dollar and other major currencies, after the Bank of Japan decided to expand its lending program by 60 trillion to 70 trillion yen per year, in order to realize the targeted inflation of 2%.
BOJ also doubled a core part of a growth lending program to 7 trillion yen, leading to forecasts that next month will witness more stimulus measures added to financial markets. Hence, the government expects the new sales tax increase in April to have a strong negative impact on the economy, so it needed further monetary stimulus to overcome such negative effect.
Nevertheless, USD/JPY gained for the second straight day to record a high of 102.49, while it was trading near 102.05 levels before the released statement. Euro also picked up against yen to reach the highest in three weeks at 140.55 from a low of 139.87.