BOJ Lowers Economic Views on 3 of 9 Regions

Economy

Tokyo, April 8 (Jiji Press)--The Bank of Japan downgraded Monday its economic views on the Tohoku, Hokuriku and Kyushu-Okinawa regions, following overseas economic slowdowns including in China.

It is the first time that the BOJ has lowered its economic views on more than two regions in its quarterly Regional Economic Report since such views were revised down on eight regions in January 2013 due to the yen's appreciation.

In the latest report, the BOJ kept unchanged its views on five other regions from the previous report released in January, while upgrading that on Hokkaido on the back of recovery from the powerful earthquake in September.

The central bank adopted the new report at a quarterly meeting of its regional branch managers.

Yasuhiro Yamada, head of the BOJ Osaka branch, told a press conference that exports and production have been sluggish recently, but that many companies expect recovery in the second half this year or in the second half of the current fiscal year to March.

[Copyright The Jiji Press, Ltd.]

Jiji Press