Warning by IMF puts BoJ under pressure

JAPAN - Pressure on the Bank of Japan to ease monetary policy at its two-day meeting that starts today has been increased considerably by the International Monetary Fund's reversal of an earlier growth forecast and its warning that Japan would enter a recession this year.

The IMF said it was "concerned that Japan could re-enter a cycle of slowing activity, rising bankruptcies and a deteriorating banking system which would, in turn, exacerbate the global downturn".

The Bank of Japan is also fac