RTTNews - Monday, Governor of the Bank of Japan, Masaaki Shirakawa said Japan's economic conditions are showing some signs of recovery. The central bank fully recognizes that the outlook is associated with great uncertainty, Shirakawa said in a speech to business leaders in Osaka.
He said, The global economic conditions seem to have stopped worsening this spring.
He added that financial institutions have been trying to slash their impaired assets and resolve excessive leverage. In this process, financial institutions' proactive lending capacity will decline. So, during the period of balance sheet adjustments, it is inevitable that the global economy remains under downward pressure, said Shirakawa.
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