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BOJ cuts assessment on 8 of 9 regional economies

Saturday 19th April, 03:58 AM JST

TOKYO —

The Bank of Japan showed Friday an increasingly pessimistic view on the Japanese economy, cutting its assessment for eight out of the nine regional economies on concerns about sluggish corporate activities.

Meanwhile, BOJ Governor Masaaki Shirakawa, speaking in a meeting of the central bank’s 32 branch managers earlier in the day, expressed his intention to strengthen its oversight of private financial institutions given the recent global credit turmoil. By region, the BOJ downgraded its views on eight regions. They are the Tohoku, Hokuriku, Kanto-Koshinetsu, Tokai, Kinki, Chugoku, Shikoku and Kyushu-Okinawa regions. The bank left its assessment unchanged only for Hokkaido, which got lowered in January when the other eight regions saw their assessments left on hold.

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