20 Feb 2015
Japan’s February Markit Manufacturing PMI disappoints – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the developments in Japan during the Asian session, commenting on the Manufacturing PMI release and BOJ Governor Kuroda’s response to speculation surrounding the inflation target.
Key Quotes
“After some improvement in trade data out of Japan yesterday and an upgrade of output and exports by the Bank of Japan earlier this week, today's preliminary Markit manufacturing PMI for February is a disappointment.”
“Resident economist acknowledged some progress in operating conditions, but also noted that employment growth weakened for the second successive month in February despite reports of an improving economy.”
“The report follows earlier findings from the Labor Ministry that wages of full-time workers rose for the first time in 2 years and were also the highest in 18 years at 1.3%.”
“BOJ Gov Kuroda responded to press speculation of potential delay in achieving 2% inflation target by noting the central bank has a variety of policy tools to meet its objectives.”
“Kuroda added that a sustainable fiscal structure for the economy is still desirable, adding the central bank is also paying great attention to stability in JGB markets.”
Key Quotes
“After some improvement in trade data out of Japan yesterday and an upgrade of output and exports by the Bank of Japan earlier this week, today's preliminary Markit manufacturing PMI for February is a disappointment.”
“Resident economist acknowledged some progress in operating conditions, but also noted that employment growth weakened for the second successive month in February despite reports of an improving economy.”
“The report follows earlier findings from the Labor Ministry that wages of full-time workers rose for the first time in 2 years and were also the highest in 18 years at 1.3%.”
“BOJ Gov Kuroda responded to press speculation of potential delay in achieving 2% inflation target by noting the central bank has a variety of policy tools to meet its objectives.”
“Kuroda added that a sustainable fiscal structure for the economy is still desirable, adding the central bank is also paying great attention to stability in JGB markets.”