Weak exports drag down economic recovery, Japan again lowers GDP growth forecast
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The Japanese government has lowered its GDP growth forecast for the current fiscal year from 0.9% to 0.7%, citing weak exports affecting economic recovery. Although the forecast is still higher than the private sector's 0.5%, the weakness in global demand and domestic consumption has increased economic pressure. The Bank of Japan maintains ultra-low interest rates, suggesting that the conditions for interest rate hikes are gradually maturing, but if demand continues to weaken, plans to exit the easing policy may slow down. The government has committed to formulating spending plans to address rising living costs
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