Under this assumption, the contribution of energy prices to the year-on-  BIS central bankers’ speeches  II. Keys to assessing the outlook for economic activity and prices  In what follows, I will discuss several points that I think deserve particular attention in terms of realizing the outlook that I mentioned earlier. A.
Employment and income situation  First, I will talk about developments in the employment and income situation. Supply-demand conditions in the labor market have continued to improve steadily, and employee income has increased moderately.