Japan central bank official sees economy worsening
By Michael Kitchen, MarketWatch
Last Update: 8:05 AM ET Mar 21, 2008
NEW YORK (MarketWatch) — Bank of Japan Deputy Governor Kiyohiko Nishimura said
Friday that the Japanese economy is slowing “sharply,” a report from the country
said.
“The economy is slowing quite sharply, even though it is on a mild expansionary
trend,” Nishimura was quoted as saying in an Associated Press report. “We need to
manage policy extremely carefully.”
The Bank of Japan currently has no governor after the five-year term of former
Gov. Toshihiko Fukui ended Wednesday. A new central bank deputy governor serving
concurrently with Nishimura, Masaaki Shirakawa, was named acting governor this
week.
“We are in an unusual situation without a governor,” Shirakawa was quoted in the
report as saying. “But we cannot let the bank’s operations stall. I will fulfill
my duties until a governor is appointed.”
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