MNI BRIEF: Majority Of Regions Cut Economic View - BOJ

Seven out of the nine regional branch managers have lowered their economic assessment from three months ago, but maintain their economies are recovering or picking moderately, the Bank of Japan’s regional economic report said on Thursday.

“Eight regions, excluding the Hokuriku Region, reported that their respective economies had been recovering moderately, picking up, or picking up moderately, although some weakness had been seen in part,” the BOJ said.

Several branch managers said private consumption is recovering or remained solid. Many also noted that capital investment is increasing but also pointed out industrial production weakness due to the temporary suspension of automobile production.

MNI reported the BOJ may consider April policy action should services inflation remain strong. (See MNI POLICY: April Services Data Key For Further BOJ Rate Move)