The Bank of Japan left its economic view of seven out of nine regions unchanged from its prior assessment in October, while raising its view on Tokai and downgrading Kinki region.
In its quarterly Regional Economic Report released Monday, bank said eight regions reported that the economy had been recovering moderately or had continued to recover.
The Tokai region noted that its economy had been expanding at a moderate pace on the back of an increase in production.
Regarding Kinki, the bank said the economy has been recovering moderately, although exports and production have been affected by the slowdown in emerging economies.
Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the economy is expected to continue recovering moderately. He repeated that the bank will closely monitor inflation and growth outlook and make appropriate adjustments to policy.