Survey shows Japan’s business sentiment improving for a 5th straight quarter

Japan’s business sentiment improved for a fifth consecutive quarter according to the Bank of Japan’s tankan survey, with the diffusion index rising to 22 for manufacturers and 37 for large non-manufacturers. The weak yen and rising energy prices from the Iran war pose challenges, but the Bank of Japan recently raised its benchmark interest rate to 1%, a three-decade high, amid efforts to normalize monetary policy.