Japan warns of risks to growth

Tokyo: Japan’s government kept its assessment of the economy unchanged but warned of increasing downside risks to growth such as the strong yen and slowing overseas growth.

The government also downgraded its view on exports, saying they are increasing at a slower pace as demand for Japanese goods in China and other Asian nations moderates.

Deepening concerns about the US economic outlook and Europe’s banking woes pushed the yen to a fresh 15-year high against the dollar this week as investors fled risk.