Anticipation is growing for a rate increase by the Bank of Japan in October as economic indicators pick up and consumer sentiment improves.
In the Cabinet Office’s September economic report, the government revised up its assessment for private consumption — which accounts for more than half of the country's gross domestic product — for the first time in 13 months to “showing signs of picking up.”
It deleted a statement that “consumer sentiment is slow to improve," contained in reports for previous months.
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