Bank of Japan Gov. Masaaki Shirakawa sounded optimistic about the domestic economy in the short-term Tuesday, but showed concern over the long-term outlook due to potential electricity shortages.
"Downside risks to the economy in the near-term immediately after the earthquake have almost completely been resolved, but I acknowledge that there are various risks at home and abroad," Shirakawa said at a press conference after wrapping up a two-day policy board meeting.
Shirakawa said he is "strongly concerned" that an electricity supply shortage in the long-term could make Japanese firms shift their production sites overseas.
"Downside risks to the economy in the near-term immediately after the earthquake have almost completely been resolved, but I acknowledge that there are various risks at home and abroad," Shirakawa said at a press conference after wrapping up a two-day policy board meeting.
Shirakawa said he is "strongly concerned" that an electricity supply shortage in the long-term could make Japanese firms shift their production sites overseas.
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