BOJ Hayami says economy to remain stagnant

JAPAN - Bank of Japan (BOJ) Governor Masaru Hayami reiterated on Apr 9, 2001 Japan's economy could remain stagnant for some time and that the central bank must pay close attention to downward pressure on prices due to weak demand.

"Our country's economy has recently been stagnant against a backdrop of shrinking exports," he said in a speech to a quarterly meeting of the central bank's branch managers.

"There is a high possibility that the economy will remain stagnant for the time being. We must