Japanese government has reduced its economic assessments for the first time in six months after the devastating earthquake that hit the nation on March 11 that left behind massive destruction and a revolving nuclear crisis.

Yesterday, the Bank of Japan agreed today to introduce more stimulus to carefully examine the outlook for economy growth and price, if the situation needs the Bank's intervention.

While the government noted that the disaster's effect on the economy has been larger than previously thought, an indication reconstruction plans may exceed the government's projections.

Meanwhile, the nation's exports (which the main pillar for the economic growth) will drop along with the production and household spending may decline.