The main driving force of the recovery has been improvement in overseas economic conditions, as a result of which Japan’s exports and production have been increasing, while business fixed investment is showing signs of picking up. Moreover, the government’s economic stimulus measures favoring environment-friendly products have contributed significantly to the pick-up in private consumption.
That means that it will facilitate the formation of the yield curve that is deemed appropriate by taking account of the economic, price, and financial conditions from time to time so as to provide a sufficient level of monetary accommodation in order to achieve the price stability target.