Japanese Growth Estimates Cut

摘要

In recent years deflation has constituted the main area of concern for Japan's economic policymakers. This year, the "supply shock" to the economy, through the loss of power supply and infrastructure damage caused by March's tragic earthquake and tsunami has given the Bank of Japan and the government further worries. Responding to new realities the Bank cut its GDP forecast for the 2011 fiscal year (April to March) to just 0.6% growth from its previous projection of 1.6%, but it does factor in an acceleration to 2.9% expansion in the FY 2012.