25 Apr '11, 1am

Bank of Japan to halve growth forecast: report

Bank of Japan to halve growth forecast: report

TOKYO: The Bank of Japan is expected to downgrade its economic growth outlook for the year to March 2012 from 1.6 per cent to around 0.8 per cent in light of the deadly disasters in March, a report said on Monday. However, in its upcoming Outlook for Economic Activity and Prices, to be released on Thursday, the central bank will predict a rebound starting late this year on recovering output and reconstruction demand, the Nikkei daily said. Growth of 0.8 per cent would be bullish compared with the average private-sector projection of slightly more than 0.4 per cent, the business daily added. The news report came as BoJ governor Masaaki Shirakawa joined private economists in expecting an economic contraction in the first half due to the 9.0-magnitude earthquake and tsunami of March 11. The disasters battered an atomic power plant, triggering the worst nuclear crisis since Ch...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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