Japan Bank Lending Growth Slows; Current Account Swings to Deficit
Japan's outstanding bank loans rose 5.4% year-on-year in July, easing from 5.7%, while the June unadjusted current account balance unexpectedly swung to a deficit of ¥92.3 billion against a forecast surplus of ¥1,512.0 billion.
Japan's outstanding bank loans increased by 5.4% year-on-year in July, according to data from the Bank of Japan. The pace of growth eased from the 5.7% recorded in the previous month.
Separately, the Ministry of Finance reported that the June unadjusted current account balance swung to a deficit of ¥92.3 billion, sharply missing the forecast of a ¥1,512.0 billion surplus. This follows a surplus of ¥3,968.3 billion in the prior period.
Source: First Squawk