Japan’s raft of data will likely be closely watched after indicators last week showed Japanese exports fell for the first time in 14 months in October and the economy slipped into recession in the July-to-September quarter.
The minutes from the most recent Bank of Japan meeting will be on tap Wednesday. The bank last week kept its policy unchanged despite recent poor data.
On Friday, Japan’s consumer price index (CPI), household expenditures and an update on the employment situation are due, capping the end of a holiday-shortened week. Japan’s markets will be closed Monday for the Labor Thanksgiving holiday.
Moody’s Analytics expects October’s core CPI will fall 0.1 percent on year for the fourth month in a row.
“The central bank’s 2 percent inflation target by mid-2016 remains out of reach as low global commodity prices combined with subdued domestic demand continues to dampen price growth. Inflation expectations have also weakened in October, and this may prompt the Bank of Japan to ease monetary policy further,” the ratings agency wrote in a note last week.
Moody’s also expects October’s unemployment rate stayed unchanged at 3.4 percent, while it forecasts a 0.2 percent on-year fall in October household expenditures.
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