 Yen rebounds broadly in today's Asian trading session, buoyed by optimistic revisions in Japan's economic growth forecasts. The government, in its semi-annual economic report, upgraded its growth projections for both the current and next fiscal years. Forecast for fiscal 2023 was raised from 1.3% to 1.6%, while projection for fiscal 2024 saw an increase from 1.2% to 1.3%. Furthermore, core inflation in Japan is anticipated to slow down from current fiscal year's rate of 3.0% to 2.5% in the next fiscal year. That is, core inflation is projected to stay above BoJ's 2% target... |
