This data will undoubtedly complicate the central bank’s efforts to raise interest rates at a time when it is already struggling with a weaker yen, which is under pressure from increased oil import costs and concerns about Prime Minister Sanae Takaichi’s spending plans.
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From April to June, Japan’s gross domestic product (GDP) grew by 0.3% compared to the previous month, while growth in the previous three months was 0.5%. Analysts surveyed by Bloomberg had forecasted 0.5% growth.
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