Special Report: Global Financial Crisis

    TOKYO, Dec. 11 (Xinhua) -- Japan's economy is facing with a further downslide amid the global financial turmoil, Kyodo News reported Thursday, citing Hirohide Yamaguchi, Deputy Governor of the Bank of Japan (BOJ).

    "We must be alert of rising downside risks" to the country's economic growth, Yamaguchi was quoted as saying at the Committee on Financial Affairs of the House of Councilors.

    He said that domestic demands as well as exports are shrinking.

    The central bank's deputy chief also predicted that a possible recovery, which the BOJ expected to take place during the latter half of fiscal 2009, could be delayed.