This morning has been published preliminary statistics on Japan's GDP, which declined in the third quarter by 0.2% against the expected 0.1%. Negative trends in the Chinese economy and weak demand for Japanese goods abroad were the main reasons for the negative dynamics of GDP. At the same time, domestic demand, which is about 60% of GDP grew by 0.5%. Minister of the country's economic recovery Akira Amari expects economic growth in the fourth quarter. Weak data may increase stimulus measures by the Bank of Japan. Our medium-term outlook for the yen remains negative.