Bank of Japan Downgrades Forecast
The Bank of Japan has changed its forecast and now expects Japan’s economy to contract 3.4 percent in the twelve months to March 31, 2010 rather than the 3.1 percent it predicted earlier. The Bank did note that “Japan’s economic conditions have stopped worsening”. More
Fed Says Stimulus Spending May Slow
Citing evidence that the US economy is on-track for a recovery in the second half of the year, the Federal Reserve said it may slow the pace of its stimulus spending. More
Fed Minutes Describe Economy as “Weak”, “Vulnerable”
Minutes from the Federal Reserve’s June meeting indicate that many Fed officials felt that the economy was still at risk despite early signs that a recovery could begin by the end of the year.
“Most participants saw the economy as still quite weak and vulnerable to further adverse shocks,†the central bank said in minutes of the Federal Open Market Committee’s June 23-24 meeting released today in Washington. “Although financial market conditions had improved, credit was still quite tight in many sectors”. More
