April 7, 2011 / 7:47 AM / 8 years ago

BOJ Shirakawa: Confident economy will resume recovery

TOKYO, April 7 (Reuters) - Bank of Japan Governor Masaaki Shirakawa said on Thursday he was confident that the country’s economy will resume a moderate recovery and will overcome challenges such as supply chain disruptions.

“Once supply constraints are resolved, export rises backed by strong growth in global economies will clearly serve as a driver to support Japan’s economy,” Shirakawa told a news conference.

He expected supply chain constraints to be resolved around June or July, but he did not give a clear time frame on when Japan’s economy would return to a recovery.

Earlier on Thursday the BOJ kept monetary policy steady and launched a new loan scheme for banks in the northeast region hit hardest by last month’s earthquake and tsunami.

The central bank also cut its economic assessment and warned of heightening uncertainty over the outlook, signalling its readiness to ease policy further as a nuclear safety crisis and rolling power blackouts hit output and business sentiment. (Reporting by Leika Kihara and Rie Ishiguro; Editing by Edmund Klamann)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below