Thank you for joining the Financial Stability Coordination Council for the Financial Stability Report for the 2nd Semester of 2021. A few days ago, Q4 2021 Year-on-Year growth was reported to be at 7.7 percent, putting the full year expansion at 5.6 percent. This is a remarkable turnaround from what we experienced in the first year of Covid-19.
Chart 15 shows three survey-based indicators with projections made by (1) economists based on the ESP Forecast Survey for two to six years ahead, (2) economists based on Consensus Forecasts released by Consensus Economics Inc. for six to ten years ahead, and (3) bond market participants based on the QUICK Bond Monthly Survey for two to ten years ahead.