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The Bank of Japan expects growth to contract by a significantly greater margin than it forecast just two months ago as the world’s second largest economy continues to suffer from a collapse in demand.
“Economic conditions in Japan have deteriorated significantly,” the BoJ said in a statement on Thursday as it lowered its forecast for the economy to a 3.1 per cent contraction in the year to next March, rather than a previously expected 2 per cent decline in growth.Click here to access this FT Asia article
Apr 10 (Reuters) - The Japanese government has announced $154 billion in new spending, in Japan's biggest ever stimulus package.
“Economic conditions in Japan have deteriorated significantly,” the BoJ said in a statement on Thursday as it lowered its forecast for the economy to a 3.1 per cent contraction in the year to next March, rather than a previously expected 2 per cent decline in growth.
