Specifically, downside risks to Japan's economic activity and prices stemming from overseas economies seem to be still significant, although they have decreased somewhat. As for the future conduct of monetary policy, my view is that the Bank should not hesitate to take additional easing measures if there is a greater possibility that the momentum will be lost due to materialization of these risks.
Nevertheless, accommodative financial conditions have been prolonged around the globe amid a sluggish rise in growth expectations.