Japan's Economy Contracting at Slower Rate on Rebounding Exports, Shirawaka Says

Bank of Japan Governor Shirakawa spoke in Tokyo today addressing the weighing sentiment about the Japanese economy. He noted hopeful signs of an easing recession in both the Japanese and global economy. Exports and output have begun to rebound and improvements in corporate bond issuance are pointing toward increased stability in Japan’s financial system. Though these observations boost economic optimism for Japan, Shirakawa cautions of downside risks for the economy including further deflation and the changing state of Japanese lenders.