Japan unexpectedly slips into recession, Germany now world's third-biggest economy

February 15, 2024

Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world's third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its decade-long ultra-loose monetary policy. "The economy will continue to lack momentum for the time being with no key drivers of growth." Japan's gross domestic product (GDP) fell an annualised 0.4% in the October-December period after a 3.3% slump in the previous quarter, government data showed on Thursday, confounding market forecasts for a 1.4% increase. Yields on Japanese government bonds fell after the data as some traders pushed back bets of an early BOJ policy shift. A Reuters poll taken in January showed April as the top choice among economists for the negative rate policy to be abandoned.

The source of this news is from Tuoi Tre News

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