The Bank of Japan kept its assessment of the Japanese economy unchanged, saying in its report for August that "economic activity remains virtually flat". Corporate capital investment spending is gradually recovering, but private consumption remains weak and housing investment is sluggish, while public investment spending is declining, the central bank said in a report issued today. Exports are virtually flat, it added.
But a report that surveyed 24 economists has offered a brighter outlook for the world's second largest economy, saying that Japanese GDP probably expanded by 0.2pc in the second quarter - its sixth straight quarter of growth. The Cabinet Office is scheduled to release its gross domestic product report tomorrow morning. //www.fxcentre.com