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World economic uncertainty high: BOJ

Bank of Japan Governor Masaaki Shirakawa warned on Thursday of major risks to global growth even as he stuck to his view that Japan’s economy is headed for a moderate recovery, signalling the bank’s readiness to maintain its ultra-loose policy bias.

Shirakawa said Japan’s economy was showing signs of picking up, with public works spending on the rise and companies’ capital spending on a moderate uptrend because of rebuilding from last year’s devastating earthquake and tsunami.

(Source: Jakarta Globe)