Japan will probably avoid a banking crisis at the end of the month because of the recent triple rise of stocks, bonds and the yen, Takashi Imai, chairman of the Japan Federation of Economic Organizations (Keidanren), said Monday.
"I guess the March crisis may be over," Imai said, referring to widespread concern about a financial crisis toward the March 31 fiscal yearend, when many companies will close their books. He called the gains a "very good development" that will help improve economic sentiment.
However, Imai cautioned against optimism, saying that private capital investment remains sluggish and that this will delay a full-fledged recovery in the real economy.