Tuesday, 8th February 2011
In Business In Japan,
BOJ governor predicts recovery
The governor of the Bank of Japan is forecasting that the country's economy could recovery from its current downturn shortly.
Masaaki Shirakawa believes that recent data shows that exports and industrial production are slowly recovering and this could signal a positive sign for Japanese businesses.
"The economic improvement seems to have paused from the fall of 2010, but recent data suggest that Japan's economy looks like it is about to emerge from that pause," Mr Shirakawa told a news conference at the Foreign Correspondents' Club of Japan.
"If we compare these short-term developments in Japan's economy with those in other advanced countries, Japan is not doing badly," he added.
The governor also highlighted that International Monetary Fund forecast for Japan's economy will grow by 4.3 per cent in 2010 -the highest rate of growth among the seven leading industrial countries.
Meanwhile, the Wall Street Journal reports that Japan's benchmark ten-year yield reached its highest level in almost nine months.
Written by Susan Ballion.
Related news stories:
Prime Minister Abe calls BOJ 2% inflation target 'epoch making' (22nd January 2013)
BOJ 'could enjoy more independence' under the Democrats (25th August 2009)