Confidence among big Japanese manufacturers was flat in the three months to September and service-sector sentiment worsened to its lowest in nearly two years, the Bank of Japan’s closely watched tankan survey showed on Monday, underscoring a fragile economic recovery.
Big firms plan to raise capital expenditure in the current fiscal year, the tankan survey showed, offering some relief to policy-makers hoping the Bank of Japan’s aggressive stimulus will boost business investment.
The results followed a mixed run of recent indicators, which highlighted doubts over whether years of massive money-printing are doing any good, as the central bank rebooted its monetary policy framework last month.
GBP/USD – Pound Unmoved by Solid GDP in Q2
USD/CAD – Canadian Dollar Climbs as GDP Beats Estimate
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Craig Erlam
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