Published:
Japan's GDP growth at 4.1%
Good news for Japan as the growth figure surpassed even market expectations.
The Bank of Japan is also preparing to act on excessive moves in the currency.
Here's more from OCBC:
GDP growth came in at 4.1% annualized in Q1, above market expectations of a 3.5% expansion and quite a turnaround from the 0.1% revised growth seen in Q4 2011.
Meanwhile, BOJ Furukawa said that the BOJ will take action on excessive currency moves, as the strengthening JPY may have potentially negative impact on the economy. Added that there is no gap between the BOJ and the government on their view on the economy.
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