Japan’s central bank has raised the cost of borrowing for only the second time in 17 years as it tries to normalise monetary policy in the world’s fourth largest economy. The Bank of Japan (BoJ) increased its key interest rate…
Recession in Japan makes Germany third largest economy
Germany overtook Japan as the world’s third-biggest economy, official data showed on Thursday, as fresh figures from Tokyo showed Japan’s economy slipping into a recession. Japan’s nominal gross domestic product (GDP) for 2023 stood at $4.2 trillion in dollar terms, government…