BIS: The worst time of the crisis or past

Bloomberg says Japan's economy is starting to get out of recession June 7 Reuters--The world economic crisis is at its worst or is over, thanks to the positive monetary policy of central banks and the government's stimulus policy, the Bank of International Settlements (BIS), based in Basel, Switzerland, reported on June 7.　　The report says there are indications that the worst of the financial and economic crisis is over, leading to a reversal of investor risk appetite and a combination of policies by central banks and governments that have played a significant role in restoring investor confidence. The report notes that in an effort to counter the worst financial crisis since the Great Depression of the 30, central banks have taken measures such as interest rate cuts and asset swaps, easing pressure on credit markets.　　Government measures, such as the bank bailout plan and the co-ordinated economic stimulus plan taken by the group of 20, also helped revive the economy.　　According to Xinhua News agency, Tokyo, June 8, Reuters Bloomberg 8th reported that the number of bank failures in Japan fell for the first time in a year, while the business confidence index climbed to the highest point in more than a year, signs that the Japanese economy is beginning to shake off the worst recession since the Second World War. The number of bank bankruptcies in Japan fell by 6.7% in May this year, to 1203, the first drop in a year, according to data provided by Japan's private credit investigation agency ——— Tokyo Business Research Co., Ltd. on the same day.　　The May economic-observer index rose from 34.2 last month to 36.7, the highest level since March, according to a Japanese Cabinet Office survey of businesses directly facing consumers. In addition, the latest figures show that in April Japanese imports increased by 7.2% from March to a second consecutive month, with industrial production growing at the highest level in 56 years in April.　　Recently, manufacturing giants such as Toyota Motor and canon have also said they will increase production in the next few months. Some economists, however, are not optimistic about the outlook for Japan's economic recovery. Hiroko Ota, Japan's former minister of Economic and fiscal policy, said Japan's economic recovery was unsustainable as corporate earnings continued to slide.