19 Apr 2017

Reforms are counter-inflationary

Towards the end of March, a surge in the value of foreign currency assets drove the country’s external reserves up by $2.7bn in a week to more than $366bn. Nikkei Purchasing Managers’ indices moved decisively into growth levels: Manufacturing to 52.5 compared to 50.7 in February and Services to 51.5 after 50.3 in February. March CPI was higher, at 3.8% but imminent reforms are likely to be counter-inflationary.

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