Bank of Japan's global slowdown warning; European markets hit 5-month high – business live

Rolling coverage of the latest economic and financial news

10.24am GMT

Vincent-Freědeěric Mivelaz of Swissquote Bank says the
Japanese economic outlook has deteriorated.

Economic headwinds forced the BoJ to revise exports and
production downward. January exports dropped -9% (prior: -5.80%),
their lowest in three years and the third consecutive drop while
imports have rebounded 0.50% (prior: -2.20%) in the same
period.

There was an unexpected pick up in the January current account
balance of JPY 600.4 billion (prior: JPY 452.8 billion) amid a
sharp rise in investment income due to an expansion phase in
financial markets, yet the drop in January machine orders by 5.40%
suggests further slowdown in Q1.

10.12am GMT

As I was saying….

Haruhiko Kuroda, who owns half of the
Japanese government bond market, says Modern Monetary Theory sounds
like an extreme idea https://t.co/KhP5yR0vbR pic.twitter.com/a9rgFePZLG

Source: FS – All-News2-Economy
Bank of Japan's global slowdown warning; European markets hit 5-month high – business live