Japan's central bank warns on economy

JAPAN - The Bank of Japan has warned that the country's economy is facing "more severe" adjustments, with the "terrorist attacks in the US... further [heightening] uncertainty".

The central bank's bleak assessment was its fifth downgrading of the country's economic prospects in as many months.

Corporate bankruptcies, meanwhile, are surging, while exports are plummeting according to data published on Monday.

Japan is in a severe recession, with the rate of unemployment at a record 5%.

The bank