BOJ Lowers Economic Views on 8 of 9 Regions

Economy Politics

Tokyo, April 11 (Jiji Press)--The Bank of Japan downgraded its economic assessments for eight of the country's nine regions in a quarterly report released Monday, citing a resurgence of COVID-19 cases and prolonged supply chain disruptions.

The central bank adopted the April 2022 Regional Economic Report at a quarterly meeting of its branch managers on the day.

The BOJ cut its views for all regions other than the Chugoku western region, also citing growing concerns over the possible further impact of the Russian invasion of Ukraine on corporate activities in Japan.

By category, the BOJ downgraded its assessments on consumer spending for all nine regions for the first time since the July 2020 report.

The previous January report had pointed to signs of recovery in demand for in-person services, including the use of restaurants and accommodation facilities, amid a relatively calm infection situation.

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