We got the trade balance from December from Japan earlier

More detail via Bloomberg, specifically on oil:

  • Japan imported 195.5 million kiloliters of oil, or about 3.37 million barrels a day in 2015, a 2.3 percent drop from the previous year
  • The the lowest since 1988
  • Japan's oil-product demand peaked in fiscal year 1999
  • Has been in decline as the populace shrinks and as auto manufacturers build more fuel efficient vehicles

It's the BOJ meeting this week, where chatter has been persistent on the potential for more easing.

Unless the BOJ can convince the population have more kids, or buy V8 cars though their impact appears to be limited.

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More:

  • In Davos BOJ Governor Kuroda offered his regular upbeat take on the economy, diminishing expectations of more policy easing.
  • Asia central bank meetings this week - BOJ - early preview
  • Look ahead to Friday and the BOJ meeting - preview from BoA/ML