BOJ cuts assessment for 1 of 9 Japan regions in quarterly report

FXStreet (Mumbai) - The BOJ released its quarterly report on economic conditions in Japan’s nine regions, with the central bank cutting its assessment for 1 of the 9 regions, while rest of the regions continued to recover.

At the previous meeting in October, all of the nine regions left their assessments unchanged from three months earlier, saying the economy was recovering.

Key Headlines:

Eight regions say economy recovering moderately or has continued to recover

Cuts assessment for 1 of 9 Japan regions in quarterly report

Raises assessment for 1 of 9 Japan regions in quarterly report

Man firms mainly in big cities raising salaries, while smaller firms remain cautious of doing so

Labour markets likely to remain tight for time being but corporate moves to raise wages have failed to gain momentum

Efforts to boost corporate innovation, eradicate consumers' deflationary mindset necessary to encourage firms to boost wages

Some firms are reluctant to raise regular pay as they feel recent profit gains largely due to temporary factors like Yen moves