BOJ Upgrades Economic Views for 7 of 9 Regions

Economy

Tokyo, July 11 (Jiji Press)--The Bank of Japan revised up its economic assessments for seven of the country's nine regions in a quarterly report released Monday, chiefly due to the weakening impacts of the novel coronavirus pandemic.

Among the seven regions is Tohoku in northeastern Japan, according to the Regional Economic Report adopted at a meeting of the central bank's local branch managers.

The BOJ left its assessments unchanged for the Kanto-Koshinetsu eastern to central region and the Tokai central region.

"Still, BOJ Governor Haruhiko Kuroda said at the start of the meeting that uncertainty is extremely high (for the Japanese economy)," citing risk factors such as COVID-19, Russia's aggression of Ukraine and natural resources prices.

It is necessary to keep close tabs on financial and foreign exchange market developments, and their impacts on the economy and prices, he said, stressing the BOJ's readiness to take additional easing measures without hesitation if needed.

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