Japan rebounded to a current-account surplus and a measure of sentiment matched a record high as a falling yen, rising stocks and stimulus bolster the outlook for the world’s third-biggest economy.
The surplus in February, the first in four months, was 637.4 billion yen ($6.5 billion), the Ministry of Finance said in Tokyo today. That exceeded the 457.5 billion yen median estimate of 24 economists surveyed by Bloomberg News. The Economy Watchers Survey of current conditions rose to 57.3 in March, the cabinet office said today.
The Japanese currency fell today to the lowest level against the dollar since June 2009 after Bank of Japan (8301) Governor Haruhiko Kuroda last week pledged to double the monetary base. While a weaker currency helps exporters and boosts repatriated earnings, the government may be on guard against excessive declines swelling import costs and fueling trade tensions.
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