• New global forecast will be lower than last one

Jolly way to start the new day

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  • Further progress needed to overcome Europe crisis
  • Yen’s upward pressure a hurdle to Japan growth
  • Worsening in Europe’s crisis could be concern for Japan’sc exports
  • US must do all it can to avoid ‘fiscal cliff’
  • Expiring tax. spending cuts would hurt US growth
  • Japan passing sales tax bill ‘very positive step’
  • Japan’s sales tax increase implementation critical
  • Asian countries must boost domestic demand