Japanese retail sales slide lower

BRISTOL, ENGLAND – MAY 04: A participant on a lilo slides down a giant water slide that has been installed down Park Street on May 4, 2014 in Bristol, England. The 90m (295ft) slide was made from plastic sheets, hay bales, water and washing-up liquid and was the brainchild of artist Luke Jerram. The three hundred ticket holders who were picked from nearly 100,000 applicants took turns to hurtle down the slide watched by hundreds of spectators lining the street that was closed to traffic. (Photo by Matt Cardy/Getty Images)

Japanese retail sales missed badly to the downside in September with the government reporting an annual decrease of 0.2%.

The figure, below the 0.8% increase of August and expectations for a moderation in growth to 0.4%, marked the first time since March that sales turned negative on year.

On Friday, the Bank of Japan will announce its latest monetary policy decision with markets evenly split on whether it will expand its current stimulus program, known as QQE, beyond the 80 trillion yen annual rate currently targeted by the bank.

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