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Scotiabank forecasts Japan's real GDP to grow 3.0% in 2021 after a 4.9% contraction in 2020. Renewed COVID-19 infections and state of emergency measures covering about one-third of output threaten the recovery.
The BoJ is expected to keep ultra-loose policy longer than other major central banks.
Weaker Japanese demand and a prolonged loose BoJ stance point to a softer yen, which raises the local cost of dollar-denominated feed imports. The effect on commodity prices is modest.
scotiabank.comApr 28, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
