Japan private sector economic council members say cant overlook weak yen negative effects

more to come

Japan’s government cut growth
forecast for
the current fiscal year ending in March 2025
to a 0.9% expansion
from a 1.3% gain projected in January

• expects the economy to grow 1.2% in fiscal
  2025
• consumption took a hit from
  rising import costs
  due to a weak yen
• projected
  growth to accelerate next year on robust
  capital expenditure
  and consumption
• retaining its view the
  economy will sustain
  a domestic demand-led recovery
• Some members of
  the government’s top economic council,
  however, voiced
  concern over recent weakness in consumption and
  the pain the yen’s
  falls were inflicting on households.
  “We can’t
  overlook the impact a weak yen and rising prices
  are having on
  households’ purchasing power,” the private-sector
  members of the
  council told Friday’s meeting that discussed the
  new growth
  forecasts.
• “The government and the Bank of Japan must guide policy with
  a close eye on
  recent yen declines”

This article was written by Eamonn Sheridan at www.forexlive.com.