Japan's economy has experienced stronger growth than expected, with the Cabinet Office reporting a 0.9% annualized GDP expansion for the three months ending in September. This surpasses the consensus estimate of 0.7% and follows a revised growth rate of 2.2% in the previous quarter.
The improved economic performance supports the case for the Bank of Japan to continue moving towards interest rate hikes. Furthermore, this growth eases some pressure on the government as it prepares to announce fiscal stimulus measures later this month.