BOJ Cuts Economic Views on 3 of 9 Regions

Economy

Tokyo, Jan. 15 (Jiji Press)--The Bank of Japan lowered its economic assessments for three of the country's nine regions in a quarterly report Wednesday, as production and exports fell on an overseas economic slowdown.

In the report, adopted at a meeting of the BOJ's local branch heads, the central bank downgraded its views on the Hokuriku and Tokai central Japan regions and the Chugoku western region. The assessments stayed the same for the other six.

"The economy has been expanding moderately," the BOJ said of Tokai, a key manufacturing center, adding "moderately" to its assessment.

On Hokuriku, the report said, "The economy has continued on an expanding trend, although the pace has moderated further." The previous report said the economy was "expanding moderately."

The Chugoku economy "has been on a moderate expanding trend, albeit at a somewhat slower pace," the bank said. The previous assessment said the economy was "expanding moderately, although some weakness has been observed in part."

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Jiji Press