I understand that the disastrous damage is still evident in the region and sincerely hope for a swift and full recovery. At the Monetary Policy Meeting (MPM) held two days ago, the Bank updated its projections for Japan's economic activity and prices through fiscal 2021 and released them in its quarterly report, the July 2019 Outlook for Economic Activity and Prices (Outlook Report).
And it also responds to other structural changes in the economy – an important one being climate change, as this Parliament has continuously reminded us in its Resolutions on the ECB Annual Reports. The Governing Council agreed on the need to take climate change risks into account when designing and implementing our monetary policy. That will help us make better decisions.