Japan Faces Risks From US, China Economies, Banking Head Says [BNN Bloomberg (Canada)]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: BNN Bloomberg
The threat from China is deflation, said Akihiro Fukutome, chairman of Japanese Bankers Association, in an interview. From the US, he sees inflation picking up if Donald Trump returns to office and implements his policies. Japan is highly dependent on trade and therefore sensitive to economic influence from other countries. Exports of cut-rate steel and chemicals from China can undercut domestic manufacturers, while tax cuts in the US could potentially spur higher prices there. “The biggest risk is the resurgence of inflation (in the US),” said Fukutome. “A rise in long-term yield is my worst-case scenario, though possibility is still low.” The Bank of Japan's recent decision to scrap negative rates and to normalize monetary policy is unlikely to cause major disruptions to the country's economy and markets, as the move had been well priced in, he said. Still, with the BOJ tightening and the US Federal Reserve forecast to start cutting rates later this year, he sees potential
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SMFG
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website