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HSBC cuts GDP growth estimate for Japan – more easing to come
HSBC has cuts its GDP growth estimate for Japan and say three is more easing to come in 2015
Revises down its estimates on Japan’s real GDP growth to 0.3% from 0.9% for 2014
To 0.6% from 1.0% for 2015
Cites “much” weaker-than-expected 3Q GDP figure and the lower base that therefore implies for 2015
HSBC has raised its 2016 growth projection to 0.9% from 0.5%
Says household spending and private investment will no longer be subject to downward pressure from higher taxes
They go on to say they expect the BOJ to deliver additional easing as early as 2Q 2015
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