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Bloomberg
Japan’s central bank further fueled the growing consensus that the economy has made a turn for the worse with its widest downgrade of the nation’s regional economies in six years.
In its equivalent to the Fed’s Beige Book, the Bank of Japan (BOJ) marked down its economic assessment of three out of nine regions in its quarterly report released on Monday, the largest number since January 2013. The downgrades are an indication that growth momentum is softening at a critical time, potentially leaving the economy in a vulnerable state ahead of consumption-sapping tax increase later in the year.