Japan may be in recession as GDP contracts in Q3.

Japan's GDP shrank 0.9% on quarter in Q3, as expected, deteriorating from +0.1% in Q2. The economy was hurt by sharp declines in capital expenditure and exports, as well as by a more moderate fall in private consumption. Economics Minister Seiji Maehara said Japan may have fallen into recession, and reiterated his call for the Bank of Japan to pursue more easing. However, the BOJ is expected to leave policy unchanged at a review next week.