The Bank of Japan on Monday cut its assessment for most regional economies in the country and its governor warned of "very high uncertainty" over the fallout from the Ukraine crisis, underscoring heightening risks to the economic recovery.
In a quarterly report analyzing regional Japanese economies, the central bank offered a bleaker view than in January for eight of the country's nine regions as a resurgence in COVID-19 cases and lingering supply constraints hit growth.
Gov. Haruhiko Kuroda said the national economy continues to pick up, but warned of the potential fallout from rising commodity costs and the war in Ukraine.