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BOJ is too optimistic about regional Japan
Japan’s major financial institution has just offered its most optimistic view on regional Japanese economies in almost a decade, even as some companies warned that uncertainty over American President Donald Trump's trade policies could impact their capital expenditure plans.
BOJ Governor Haruhiko Kuroda repeated that the country’s major bank is on the verge of maintaining its huge monetary stimulus, with inflation still distant from its ambitious 2% objective.
Japan's economy keeps reviving modestly as a trend. As for the outlook, it’s supposed to turn to a modest. That’s what Kuroda stressed on Monday, at a quarterly gathering of the major bank's regional branch managers.
In a report published after the gathering, compared with three months ago, the BOJ maintained rather a rosy economic assessment for eight of Japan's nine regions, but revised up the assessment only for one area.
Many Japanese manufacturers were deriving benefits from strong overseas demand for electronic parts as well as semiconductor-making equipment, as the report told. That’s a sign Japan's economic revival keeps relying mostly on exports.
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