BOJ's Muto says business more confident

Businesses based in the Osaka region, Japan's second largest industrial hub, are more confident of a sustainable economic recovery now than they were three months ago, a Bank of Japan senior official said.

``The information technology industry is making considerable progress in adjusting inventories,'' Eiji Muto, head of the central bank's Osaka branch, told a press conference today in Tokyo. ``A consensus is being built that a revival of the economy is coming into sight.''

Osaka is the secon

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