In the Regional Economic Report, BoJ upgraded economic assessment of 2 regions (Hokuriku and Kinki), downgraded 2 regions (Chugoku and Shikoku), and kept 5 regions unchanged (Hokkaido, Tohoku, Kanto-Koshinetse, Tokaiand Kyshu-Okinawa).
It added: “while they reported that their economy had remained in a severe situation due to the impact of the novel coronavirus (COVID-19) — with some reporting that it had seen a slowdown in the pace of its pick-up — many reported that it had picked up as a trend or had started to pick up.”
Governor Haruhiko Kuroda told branch managers, “Japan’s economy remains in a severe state but is picking up as a trend… As the pandemic’s impact gradually eases, the economy will recover thanks to increasing external demand, loose monetary policy and the effect of government stimulus measures.”
