Japan's Recovery To Quicken In Second Half Of FY 2011/12: BoJ's Nakamura
2011-06-02 10:44:50
Japan's economic recovery is set to accelerate in the second half of the fiscal year ending March 2012, Bank of Japan policy board member Seiji Nakamura said Thursday. Private consumption is likely to recover and reconstruction demand to increase further, he told business leaders in Nara, western Japan.
The preliminary report released last month showed Gross Domestic Product declining 3.7 percent annually in the first quarter, while it was down an annualized 0.9 percent sequentially.
Nakamura said the long-term interest rates continue to remain stable at low levels, indicating confidence in the Japanese bond markets.