BOJ offers bleakest view on Japan's regions in over a decade

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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.

FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda, speaks during an interview with Reuters in Washington, U.S. October 19, 2019. REUTERS/Carlos Jasso

The move underscores just how much damage the coronavirus pandemic has done to the world’s third largest economy. “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 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.

 

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180 countries have bleak economic

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