BOJ Offers Gloomier View on Regional Japan as Supply Curbs Hit Autos

Read MoreTOKYO–The Bank of Japan (BOJ) offered on Thursday its gloomiest view on regional economies in more than a year as supply constraints disrupted factory output of cars and other products, clouding the outlook for the export-reliant economy. In a quarterly report, the central bank slashed its economic assessment for five of the country’s nine regions–the biggest number of cuts since July last year–signalling alarm over the output disruptions and the hit to consumption from the coronavirus pandemic. The cautious view may trigger a downgrade in the BOJ’s growth forecast for Asia’s second-biggest economy this fiscal year, when it issues fresh quarterly projections at its Oct. 27-28 policy meeting. In a sign of the broadening damage from the global chip and parts shortage, the BOJ cut its view on output for four regions including the Tokai central Japan area–home to auto giant Toyota Motor Corp. “Southeast Asian factories are resuming operations …