BOJ Cuts Economic Views on 5 of 9 Regions

Economy

Tokyo, Oct. 7 (Jiji Press)--The Bank of Japan lowered its economic assessments for five of the country's nine regions in a quarterly report released Thursday, reflecting a pause in the domestic economy's recovery due to the prolonged coronavirus pandemic.

The downward revisions are partly attributed to the rapid spread of the coronavirus in Japan this summer, as well as vehicle production cuts stemming from semiconductor shortages, according to the report, which was adopted at a meeting of BOJ regional branch heads on the day.

The five downgraded regions are the Tohoku northeastern region, the Tokai central region, the Kinki and Chugoku western regions and the Kyushu-Okinawa southwestern region.

The number of downgraded regions was the most since the BOJ cut its views on all nine regions in July last year.

The BOJ kept its assessments unchanged for the four other regions--the Hokkaido northernmost region, the Hokuriku central region, the Kanto-Koshinetsu eastern region and the Shikoku western region.

[Copyright The Jiji Press, Ltd.]

Jiji Press