Thursday, 24th December 2009
In Business In Japan,
Bank of Japan: Support will be given until assured recovery
The Bank of Japan (BOJ) governor Masaaki Shirakawa has today (December 24th) given his speech to the board of councillors of Nippon Keidanren in Tokyo about the challenges ahead.
In his review of the year, Mr Shirakawa said since he addressed the forum exactly a year ago, central banks and governments have launched a number of policies to help ease countries out of the global economic downturn.
As a result of this, Japan's economy has been improving since spring, although there are still a number of uncertainties about the future.
"Regarding Japan's economic outlook, we expect that the pace of improvement will remain moderate up to around the middle of fiscal 2010 as pressure to adjust production capacity and employment is likely to remain," he noted.
"Advanced" economies such as Japan are aware that economic stimulus is required until there are reassurances that recovery is firmly in place.
The BOJ has also released the minutes of its monetary policy meeting held on November 19th and 20th.
Written by Mark Smith
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