23 Apr '11, 6am

DTN Singapore: BoJ chief sees Japan economy shrinking in H1: Report: TOKYO - BANK of Japan governor Masaaki Shir...

DTN Singapore: BoJ chief sees Japan economy shrinking in H1: Report: TOKYO - BANK of Japan governor Masaaki Shir...

Bank of Japan governor Masaaki Shirakawa said the economy will likely contract in the first half mainly due to stalled production after the quake-tsunami. -- PHOTO: REUTERS TOKYO - BANK of Japan governor Masaaki Shirakawa said the economy will likely contract in the first half mainly due to stalled production after the quake-tsunami, the Wall Street Journal reported on Saturday. 'We are now expecting production and GDP will decline in the first quarter and the second quarter,' Mr Shirakawa said in an interview with the paper on Friday. He said stalled production was the 'heart of the problem' facing the Japanese economy in the aftermath of the monster March 11 quake and tsunami disaster which has left 26,455 dead or missing. The disasters damaged production facilities and atomic power plants in the north-east, triggering the world's worst nuclear crisis since Chernobyl and...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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