View more on these topics

Japan falls back into recession

Tokyo-Japan-Asia-Night-700x450.jpg

The Japanese economy has slipped into technical recession for the second time in three years amid uncertainty about the state of the global economy.

Japan’s economy contracted in the third quarter of 2015, with gross domestic product declining 0.8 per cent in the three months to the end of September following a revised 0.7 per cent drop in the second quarter, the Cabinet Office reported today.

In the meantime, as the market reflected the nervousness in the wake of the tragic events of the Paris terrorist attacks, the MSCI Asia Pacific Index declined 1.1 per cent to 130.77 in early trading in Hong Kong today while Japan’s Topix index dropped by 0.9 per cent.

After its latest meeting, the central bank of Japan lowered the country’s economic growth forecasts for the year to March 2016 to 1.2 per cent from 1.7 per cent.

The inflation target of 2 per cent was also postponed by the central bank amid low energy costs, weak exports and a slow recovery in consumer spending.

The central bank also decided the new aggressive asset purchase started in October 2014 will remain at its annual pace of 80trn yen (£428bn).

Recommended

Nutmeg customers hit by data glitch

Customers of online investment manager Nutmeg have had their personal details and suitability reports sent to the wrong people. The firm says 32 customers were affected by the breach in which their names, addresses and investment details were emailed to the wrong people following a “technical error”, the FT reports. Nutmeg says bank details were […]

Michael Johnson hits out at ‘vested interests’ of pension Isa critics

Pension Isa architect Michael Johnson has hit out at the pensions industry’s “vested interests” in preserving the current model of tax relief and says radical reform should also tackle public sector schemes. The Centre for Policy Studies research fellow has led calls for the Government to switch from the current exempt-exempt-taxed model to taxing contributions […]

Nationwide-building-2013-700x450.jpg

Ex-HSBC boss and BT chief to take over at Nationwide

BT Openreach chief executive and former HSBC deputy chief executive Joe Garner has been appointed to lead Nationwide Building Society. Garner is set to take over as chief executive from Graham Beale early next year. He has headed up BT’s broadband division since early 2014. In addition to being deputy chief executive at HSBC, Garner […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Oh dear. And after all those articles and tips earlier in the year that this could be Japan’s year….

Leave a comment