One year and five months have passed since the Bank introduced QQE, and the policy has been having its intended effects so far. The impact of QQE is expected to become stronger going forward, making it particularly important for the Bank to ensure the public fully understands its policy.
Today, before exchanging views with you, I would like to explain the current situation of and outlook for Japan’s economy. I will then talk about the background behind QQE. I. Current situation of and outlook for Japan’s economy  A. Economic activity  Let me start by explaining the current situation of and outlook for Japan’s economic activity.