- Analytics
- News and Tools
- Market News
- Bank of Japan offers bleakest view on Japan's regions in over a decade
Bank of Japan offers bleakest view on Japan's regions in over a decade
Reuters reports that the Bank of Japan cut its economic view for all of the country's nine regions for the second straight quarter, the first such downgrade since Lehman Brothers collapsed in 2008, backing signs the economy could fall deeper into recession.
The move underscores just how much damage the coronavirus pandemic has done to the world's third largest economy.
In its quarterly report released on Thursday, the BOJ offered a bleaker view for most regions than three months ago due to recent data pointing to slumping factory output, consumption and capital expenditure.
"Exports have been shrinking further as COVID-19 has led to a plunge in global automobile sales," said a transport machinery maker in southern Japan in the report.
The July report said all of Japan's nine regional areas saw their economies "worsening" or in a "severe state" due to the outbreak which forced governments around the world to impose restrictions on businesses and movement earlier this year.
The warning comes ahead of the central bank's interest rate decision next week, when it is expected to hold off on loosening monetary policy further to gauge the impact of stimulus measures deployed in March and April.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
