Bank of Japan downgrades economic assessment

The Bank of Japan downgraded its assessment of the country's sluggish economy on Friday in its latest monthly report, while the central bank's governor said steel shortages were compounding the economic slowdown.

"Japan's economy continues a recovery trend, although there seem to be somewhat weak movements mainly in production," the BoJ said in the monthly report.

Toshihiko Fukui, BoJ governor, said the economy's "pause" reflected a slowdown in overseas economies, the excessive expansion of inv

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