TOKYO, April 1 (AP) - (Kyodo)—The Bank of Japan has begun considering revising downward its projection for the nation's economic performance in fiscal 2009 with a much bigger contraction rate than previously stated after its Tankan business sentiment survey showed the worst-ever result Wednesday, sources close to the matter said.
The central bank said earlier that Japan's real gross domestic product would contract 2 percent in the fiscal year which started Wednesday. The BOJ is likely to announce the downgraded projection on April 30 when its Policy Board will meet and release a biannual economic outlook report, the sources said.
