Japan’s economy contracted 1.4 percent in the last quarter of 2015. That’s less than what was initially estimated. As consumption remained weak, Prime Minister Shinzo Abe’s efforts to lift the economy of decades of deflation and stagnation are under threat. With sluggish growth, the market now expects the government to delay a second consumption tax hike. The weak economic backdrop will keep the Bank of Japan under pressure to further expand monetary stimulus.
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