TOKYO - Japan's economy has at last emerged from recession, enjoying its strongest growth for two years. The economy has rebounded from three straight quarters of contraction, growing 1.4% in the first quarter, which is an annualised rate of 5.7%. That is a better performance than even the United States.
The Bank of Japan, however, is unlikely to shift policy in response to the strong figures. So long as deflation is entrenched and banks are dependent on the BOJ's ultra-loose policy to sta
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