Bank of Japan Governor Masaru Hayami reiterated Jan. 29 that while the economy is gradually recovering, the pace of growth is slowing due to a fall off in exports. "The economy continues to moderately recover, but the tempo is easing due to a deceleration in exports," he said in opening remarks at a BOJ branch managers' quarterly meeting. Hayami said that the probability of the business investment-led economic recovery continuing is "high," but he stressed that downside risks could hamper that