Bloomberg Daybreak: Asia Edition Japan's GDP Miss, BlueScope Steel Earnings
Feb 16, 2026
Tania Archibald, CEO of BlueScope Steel, on earnings, capital spending shifts, shareholder returns and decarbonization projects. Mark Cranfield, Bloomberg Markets Live strategist, on Japan's weak Q4 GDP, inflation splits, FX moves and market implications. They discuss steel demand, cost pressures, policy signals and the outlook for investors.
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Japan's Tepid Q4 Growth And Inflation Pressure
- Japan's Q4 GDP grew only 0.1% quarter-on-quarter, missing expectations and highlighting weak output despite political stimulus momentum.
- Mark Cranfield says persistent core inflation and wage gains push the Bank of Japan toward neutral rates.
Core Inflation Outpacing Headline In Japan
- Core inflation in Japan has stayed above headline inflation for an extended period, signaling sustained domestic price pressures.
- Cranfield interprets that as evidence the Bank of Japan hasn’t tightened policy fast enough.
Watch The Takaichi–Ueda Meeting Closely
- Watch the meeting between Prime Minister Sanae Takaichi and BOJ Governor Ueda for policy signalling and potential pushback.
- Treat Takaichi's relative silence so far as an opening for either cooperation or political friction with the BOJ.