The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Japan's government retained its view on the economy as the private consumption and business investment are expected to support moderate recovery, and upgraded its assessment on business conditions. In the monthly report released Wednesday, the Cabinet Office said that the economy is recovering at a moderate pace. The office has kept the same wording since May.
The improvement in employment and income situation underpinned by the impact of the policies will help the economic recovery, the office observed.
However, slowing down of global economies amid ongoing monetary policy tightening was cited as a downside risk to the Japanese economy.
Upgrading the view on business conditions, the office said, "Firms' judgments on current business conditions are picking up."
On Tuesday, Premier Fumio Kishida's government confirmed that the budget will turn positive in the fiscal year ending March 2027 based on the assumption that the economy will grow about 2 percent in real terms.
In the twice-yearly projections, the cabinet office projected a surplus of JPY 2.3 trillion for the year ending March 2027, which was JPY 200 billion smaller than the previous outlook released in January.
The government lowered its deficit estimate for the fiscal 2025 to JPY 1.3 trillion, citing the increasing tax revenue on the back of strong corporate earnings.
Elsewhere, the International Monetary Fund on Tuesday urged the Bank of Japan to be a bit more flexible with its monetary policy and to start preparing for tightening.
IMF Chief Economist Pierre-Olivier Gourinchas said on Tuesday that the BoJ can remain accommodative for now. However, he cautioned that inflation is likely to remain above the 2 percent target due to strong wage growth.
"Our recommendation is to be a bit more flexible, and maybe move away from the yield curve control that it has," Gourinchas said.
His comments came ahead of the monetary policy announcement of the BoJ on July 28. The central bank is also scheduled to publish its quarterly outlook report outlining the view on GDP and inflation.
The IMF forecast Japan's economy to expand 1.4 percent this year and 1.0 percent in 2024.
