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BOJ Maeda Sees Big Contraction in Japan 4Q GDP
Japan's gross domestic product for the October-December period might have contracted sharply on the back of the slowdown in overseas economies, natural disasters and the post tax hike impact, according to a senior Bank of Japan official. Speaking on Friday, Eiji Maeda, the executive director in charge of monetary policy at the BOJ told lawmakers, "There is the possibility that Japan's economy had contracted sharply for the fourth quarter. "But looking ahead, downside risks (to economic activity and prices) will likely weaken and a moderate economic recovery will continue and prices will rise amid solid capital ... (full story)