However, as I will explain, the fundamentals of Japan’s economy are sound and the environment surrounding firms and households has significantly improved compared to some years ago. Moreover, the underlying trend in inflation has been improving steadily. Quantitative and qualitative monetary easing (QQE), which the Bank introduced in April 2013, has been exerting its intended effects toward overcoming deflation.
Until November 2022, 15.8 million transactions with a total value of over 14.7 billion euros have been processed. Compared to the transactions of the previous year, volume of transactions has increased by nearly 21.6 percent, whereas the value of transactions has decreased by 3.5 percent.