It was determined at today's meeting that we cannot say that core consumer prices have stabilized above zero. The bank has not decided when to shift its policy. |
It's necessary to make the judgment calmly and objectively without any preconceived notions about whether the consumer price index excluding fresh food prices has stabilized at zero or above. |
Japan's economic situation is at an important stage. Price judgment is needed about the future course, but I have no determined idea, |
Japan's economy is likely to experience a sustained period of expansion, with domestic and external demand and also the corporate and household sectors well in balance. |
Market participants share the view that fundamentals are strong. |
Our intention is not to move to credit tightening now. |
Our judgment now shows the economy has almost broadly emerged from a stalled stage, |
Our top priority is to help bring about sustained economic growth, and moving out of deflation is only half way there. |
People think the withdrawal of monetary accommodation is about to get under way. People can price it in before any possible change (in monetary policy) on a global basis, |
Rises in prices may not accelerate, but it's unlikely that they will fall back into negative territory once they start rising, |
Second-quarter GDP was revised upwards, representing the well-balanced nature of the recovery in Japan's economy, |
The Japanese economy has finally crawled out of a lull which began in the summer of last year and is continuing to recover, |
The world economy is running smoothly at the moment but there is a need to see what kind of risk factors there are, |
The year-on-year rate of change in consumer prices is projected to be zero percent or to show a slight increase towards the end of this year, |
There is a high chance that core consumer prices will turn to be positive toward the end of the year. |