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Bank of Japan Deputy Gov. Kazumasa Iwata said financial market turmoil and a slowdown in the United States or Europe could hurt the world’s second-largest economy.

“If the stock slump and the yen’s gain continue, that would have a negative effect on Japan’s economic growth,” Iwata, 60, said Thursday in a speech to business leaders in Shimonoseki, Yamaguchi Prefecture. Growth may also cool “if the U.S. economic slowdown deepens and European economies suffer a deceleration.”

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