Japan posts worst annual trade deficit on record

Japan suffered its worst annual trade deficit in March, as export growth slowed to its weakest in a year.

The Bank of Japan has repeatedly ruled out fresh easing measures in the near-term, insisting that the economy is on track to meet its 2% inflation target.

However, the double- whammy of weak external demand and a chill in domestic consumption from the April 1 sales tax hike to 8%, from 5%, might add pressures on the Bank of Japan to act sooner rather than later.