The Bank of Japan (BOJ) has warned that the country's economic growth may be hurt by the eurozone debt crisis, flooding in Thailand and a strong yen.
It said the euro crisis was stifling demand from Europe, while disruption to supply chains due to the Thai floods was affecting Japanese manufacturing.
The warning comes just days after Japan reported that its economy grew by 1.5% in the third quarter.
The BOJ left its key interest unchanged between zero and 0.1% to boost growth.
"Japan's economy continues to pick up but at a more moderate pace, mainly due to the effects of a slowdown in overseas economies," the central bank said in a statement.
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