Japan records current-account surplus in February

Japan records current-account surplus in FebruaryAccording to the latest figures released, Japan recorded its first current-account surplus in four months, indicating that the optimism is returning to the world's third largest economy under aggressive economic policies.

The Japanese economy recorded a surplus of 637.4 billion yen or $6.5 billion for the month of February, according to the data released by the Ministry of Finance said in Tokyo. The government data also showed that the Economy Watchers Survey of current conditions rose to 57.3 in March. The surplus is February is much higher than 457.5 billion yen average predicted by a survey of 24 economists surveyed by Bloomberg News.

Haruhiko Kuroda, the new Governor of the Japanese central bank has announced his decision to expand the monthly bond purchases to twice its level in the country in order to boost the domestic economy. The new governor is likely to take steps to aggressively ease the monetary policy in the country to boost the economic growth in the Japanese economy. He believed that BoJ has not purchased assets yet and should move to acquire assets to boost the Japanese economy.

The Japanese currency has fallen to its lowest level against the dollar since June 2009 following the announcement of more stimulus measures from the Bank of Japan, which will help exporters and boosts repatriated earnings. Experts say that the factors like a falling yen, rising stocks and stimulus bolster indicates that the Japanese economy could show signs of recovery.