Monday’s data show that Japan’s economy continues to grow steadily, largely in line with the central bank’s projections. The fourth-quarter expansion is likely to give central bank authorities confidence they can continue to unwind the BOJ’s ultra-easy policy settings with gradual rate hikes.
Japan’s economy expanded for a third straight quarter as companies boosted investment and net exports improved, keeping the Bank of Japan on track for further gradual interest rate increases. The data gave the yen a boost.
Gross domestic product grew at an annualised pace of 2.8% in the three months through December from the prior period, the Cabinet Office reported Monday. That compared with a revised 1.7% clip in the previous period and beat the 1.1% consensus estimate.
