Japan’s Matsuno: Must be vigilant to downside risks from slowing global economy

Responding to the Bank of Japan (BoJ) Tankan survey, Japan’s Chief Cabinet Secretary Hirokazu Matsuno said that they “must be vigilant to downside risks from slowing global economy amid monetary tightening and inflation.”

The BoJ closely watched Tankan survey showed early Wednesday that business confidence among big Japanese manufacturers worsened in the three months to December for a fourth straight quarter.

Japan firms' inflation expectations 1 and 3 years ahead both hit the highest level on record, the survey showed.

Market reaction

USD/JPY was last seen trading at 135.50, modestly flat on the day.