"I expect the BOJ to maintain its stance of supporting the economy"
- Yasuhide Yajima, the chief economist at NLI Research Institute Ltd.
Japan's leading indicator declined in March following a strong growth in the previous month, according to data released by the Cabinet Office. The leading economic index fell to 97.6 in March from a revised 97.7 a month earlier, while economists expected the index to advance to 97.7 from February's originally recorded 97.6. The index of leading economic indicators is compiled using such data as the number of consumer sentiment, job offers, and a gauge of the economy a few months ahead and is used to forecast financial and economic trends.
Meanwhile, the coincident economic index, which evaluates the current economic situation in the country, increased to 93.3 in March from 92.5 in the prior month, adding to signs that the economy is on a path of steady recovery. Another indicator, the lagging index, which measures the past performance of the economy, rose to 87.1 from 86 in February.
"I expect the BOJ to maintain its stance of supporting the economy" by keeping a lid on yields, said Yasuhide Yajima, the chief economist at NLI Research Institute Ltd.
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