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Japanese government cautious

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Japanese government cautious

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Japan’s government has left its overall assessment of the economy unchanged, saying it is “picking up steadily” though in its monthly report for May Tokyo said Europe’s debt crisis, the wild swings in financial markets and deflation pose risks to its outlook.

On Monday, the Bank of Japan’s Governor has said Europe’s problems have not had a direct impact on Japan; the bank recently upgraded its view saying the economy is in a “recovery” stage.