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BOJ Cuts Views on All 9 Regions for 2nd Straight Qtr.

BOJ Cuts Views on All 9 Regions for 2nd Straight Qtr.

   Tokyo, July 9 (Jiji Press)--The Bank of Japan on Thursday downgraded its assessments on all nine regional economies in the country for the second straight quarter, again citing the impact of the new coronavirus outbreak.
   This is the first time for the BOJ to cut its economic views on all regions for the second consecutive quarter since January 2009 amid the global financial crisis triggered by the 2008 collapse of U.S. investment bank Lehman Brothers.
   The Japanese economy is in "an extremely severe situation," Governor Haruhiko Kuroda said at the beginning of a meeting of the BOJ's branch managers. He said that the severe situation is expected to continue for a while.
   He also said he will continue to closely monitor the impact on the real economy of the rain disaster mainly in the Kyushu southwestern region from late last week.
   "The economy has been in an extremely severe situation due to the impact of COVID-19 at home and abroad," the BOJ said of the Kanto-Koshinetsu eastern Japan region in its quarterly regional economic report adopted at the meeting.

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AFP-JIJI PRESS NEWS JOURNAL


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