This is evidenced, for example, by the 93rd Opinion Survey on the General Public's Views and Behavior (March 2023 Survey) released by the Bank in April, which shows that 85.7 percent of the respondents expected that prices "will go up" over the year ahead.1 As for the perception of the present price levels compared with one year ago, 94.5 percent answered that prices "have gone up," suggesting that the respondents expected inflation momentum to level off slightly (Chart 7).2 The price situation in Japan that I have just described can be regarded as a move toward overcoming deflation, which Japan has experienced for a long period.
Since the mid-19th century, the Bank of Finland has striven for monetary stability through international integration, which was the way to attract foreign capital to boost investment and growth in our capital-poor country.