Japan bank lending data for March

Japan data on lending in March; this against a background of slower lending growth at banks since about mid-2017.

Bank lending including trusts: 2.0% y/y

• prior 2.1%

Bank lending excluding trusts: 1.9% y/y

• prior 2.1%

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Of perhaps more market impact are the other pieces of data released at the same time

• Japan producer inflation (March): PPI 2.1% y/y (expected 2.0%)

and

• Japan Core Machinery Orders (February): 2.1% m/m (expected -2.5%)

Both of them beats, both of them yen supportive (check out those other two posts for the bigly caveat on 'yen supportive')