Taking into account that the level of economic activity had been rising moderately and a virtuous cycle from income to spending had gradually started operating, the Bank of Japan, at the Monetary Policy Meeting held on July 10 and 11, 2013, raised its basic assessment of the domestic economy, from the assessment that the economy “has been picking up” to the assessment that it “is starting to recover moderately.” As for the outlook, exports are expected to increase moderately, mainly reflecting the pick-up in overseas economies and the correction of the yen’s appreciation.
Why are the ECB and the national central banks ignoring bitcoin and other cryptocurrencies, which are being increasingly used for trade? We aren’t ignoring them. At the moment crypto-currencies don’t pose any monetary risk because the amounts involved are marginal. They are speculative financial instruments which create risks of a financial or even criminal nature.