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Bloomberg
Japanese trade returned to surplus in June, with both imports and exports continuing the strong growth they have had all year. Exports rose 9.7% from a year earlier (estimate 9.5%). Imports increased 15.5% (estimate 14.4% ). The trade surplus was 439.9 billion yen (estimate +488 billion yen).
The nation’s modest economic recovery reflected in the trade data and the move to tighter policy by other major central banks is putting pressure on policy makers in Japan to be clearer about their plans to normalize monetary policy.
Some lawmakers are starting to press the BOJ to communicate more openly about its future exit strategy, and the BOJ is re-calibrating its communications on the subject while firmly maintaining that such a policy change won’t happen anytime soon, according to people with knowledge of discussions at the central bank.