FT.com: Japan GDP growth fastest in three years

Expectations that the Bank of Japan would raise interest rates soon strengthened on Thursday after fourth quarter GDP figures showed the Japanese economy grew at its fastest pace in nearly three years.

Why is this important? Because if the BOJ raise rates, there is less cheap borrowed money washing around. Less cheap borrowed money means less easy credit. Less easy credit means tougher mortgage lending criteria. Tougher mortgage lending criteria means less money chasing the same housing stock. Less money supply means less inflation of house prices or..