Japan's economy is under strong downward pressure, mainly on the production side, due to the effects of the earthquake, the Bank of Japan's Monthly Report of Recent Economic and Financial Developments, published on Monday, said.

The report, which is based on data and information available at the time of the Bank of Japan's most recent monetary policy meeting, said production had sharply dampened as a result of the Tohoku earthquake in Japan's north-east coast last month, with exports and