Japan Industrial Production (MoM) (September), preliminary 2.2% m/m (vs. expected 1.5%)

Japan Industrial Production (MoM) (September), preliminary 2.2% m/m

• expected 1.5%, prior 1.5%

Preliminary 3.4% y/y

• prior -1.6%

The forecast for one month ahead is 1.9%

• prior 4.1%

The forecast for two months ahead is -0.9%

• prior 1.2%

-- The preliminary September results are encouraging and bolster the case for Bank of Japan rate hikes ... eventually! The Bank maintained rates steady yesterday indicated it'd still be a cautious road ahead.