16th November 2015
The yen is under more pressure this week as figures show Japan has re-entered recession.
Japan’s economy shrank by 0.8 per cent on an annualised basis in the third quarter, signalling that efforts to boost demand and stimulate the economy are failing.
Business spending was down 1.5 per cent but more encouragingly private consumption was up 0.5 per cent.
The Bank of Japan meets later this week and the lacklustre data heaps yet more pressure on policymakers to expand its already-massive quantitative easing programme.
Marcel Thieliant, economist at research firm Capital Economics, told the BBC the group is “convinced that more stimulus will eventually be needed”.
However, he said it the most likely time for any announcement would be January.
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