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Banking industry leader expresses optimistic view on economy.

TOKYO, March 16 Kyodo

A banking industry leader echoed Tuesday assessments of the nation's economy by the Economic Planning Agency (EPA) and the Bank of Japan (BOJ), saying the downward trend of the economy is waning.

The economy is ''still severe,'' but there are some signs that show the downward trend is fading, Satoru Kishi, chairman of the Federation of Bankers Associations of Japan, told a news conference.

The EPA said in its monthly report released Tuesday that ''the economy is in the process of slowing its downward momentum.''

The BOJ said Tuesday in its report that the downward momentum which has long plagued production by Japanese manufacturers has dissipated, at least for the time being.

Kishi, president of the Bank of Tokyo-Mitsubishi, said he feels the economic growth is likely to turn positive after this spring because of the effects of the government's economic stimulus measures.
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Comment:Banking industry leader expresses optimistic view on economy.
Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Mar 22, 1999
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