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Tuesday, February 16, 2016, Falgun 4, 1422 BS, Jamadiul Awwal 5, 1437 Hijri

Yen eases against major peers on weak GDP data
Published :Tuesday, 16 February, 2016,  Time : 12:00 AM  View Count : 20

TOKYO, Feb 15: The yen eased against its major counterparts in Asia Monday, as a contraction in Japan's economy during the final quarter of 2015 sparked talk of another recession among analysts.
The world's number three economy shrank 0.4  in the October-December quarter -- an annualised 1.4  -- the Cabinet Office said early on Monday, dealing another blow to Prime Minister Shinzo Abe's faltering attempts to kickstart growth and ramp up inflation. For the whole of last year growth was a measly 0.4 .
"Japanese policy makers need to go on an all out war against the risk of a recession," Takuji Okubo, principal at Japan Macro Advisors, told Bloomberg TV. The Bank of Japan "should keep on easing monetary policy," he added. "Prime Minister Shinzo Abe should definitely cancel the sales tax planned for next year.
"Policymakers need to show the market they are aware of the risks and they are doing everything they can to prevent a recession."    ?AFP

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