BOJ Downgrades Economic Views for 2 of 9 Regions

Economy

Tokyo, April 15 (Jiji Press)--The Bank of Japan, in a quarterly report released Thursday, downgraded its economic assessments for two of the country’s nine regions, against the backdrop of spreading coronavirus infections.

The two are Hokkaido in northern Japan and the northeastern region of Tohoku. The assessments for the seven other regions were kept unchanged.

In the Regional Economic Report, the BOJ indicated that many regional economies are picking up, but showed concerns about the pandemic’s impact on the restaurant, hotel and other industries involving face-to-face services.

In particular, the central bank cited strong downward pressure on consumption of services in the Kinki region including Osaka and Hyogo prefectures, where pre-emergency measures against the pandemic are currently in place.

At a meeting of BOJ regional branch heads on Thursday, Governor Haruhiko Kuroda indicated the central bank’s emphasis on providing financial support for companies and maintaining financial market stability.

[Copyright The Jiji Press, Ltd.]

Jiji Press