BOJ hints at unavoidable recession in Japan

JAPAN - The Bank of Japan has downgraded its assessment of the Japanese economy for the third straight month and hinted strongly that a recession - the country's fourth in a decade - will be unavoidable.

The downgrade comes the day after the bank eased monetary policy in an attempt to offset the effects of the economic downturn and to stem deflation by boosting liquidity in the banking system.

The latest report highlights concerns that the economy is contracting rapidly before the implementatio