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Japan Chart Pack (Apr. 2024)

Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. (Please ignore the previous email which linked to the February Chart Pack)

The latest activity data suggest that GDP contracted at the start of the year, but a rebound is very likely over the coming quarters. Goods inflation should keep slowing rapidly, but strong wage growth will keep inflation above the BoJ’s target for most of this year. Indeed, the BoJ have sounded more confident that sustainable 2% inflation is attainable and we think there is one more rate hike on the cards.

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