03.07.201700:24:00UTC+00Japan Business Confidence Touches Three-Year Peak

Japanese manufacturers' sentiment reading climbed for a third consecutive quarter last month, touching its highest in over three years.

The recent BOJ Tankan survey showed the headline confidence reading among major manufacturers escalated to 17 in June, previously 12. The outlook at major manufacturers increased to 15.

The sentiment index among huge non-manufacturers hit 23 in the preceding month from 20 in March, the second straight high reading in a quarter and its highest since December 2015.

Also, the same survey denoted that big companies seek to bolster their capital expenditure by 8.0% in the present fiscal year until March next year.

Meanwhile, BOJ policymakers will look into this indicator and other factors to evaluate current monetary policy and inflation projections in their upcoming meeting.