B.  Upside and downside risks to Japan’s economy  With respect to the upside and downside risks to the Bank’s aforementioned baseline scenario for economic activity, the following five factors were examined: (1) developments in global financial markets; (2) performance of overseas economies; (3) firms’ and households’ medium- to long-term growth expectations; (4) the extent of the front-loaded increase and subsequent decline in demand prior to and after the consumption tax hikes; and (5) fiscal sustainability in the medium to long term.
It took over that role from the Deutschmark. The euro has a share of roughly 13 percent in international currency reserves – about as much as the Deutschmark had before. In this field, the dollar is the unchallenged leader, at two-thirds of international reserves.