Therefore, I will first talk about overseas economies. In response to the rapid deterioration in international financial markets and in the global economy following the failure of Lehman Brothers, the governments and central banks around the globe took bold policy measures. Partly due to the effects of those measures, international financial markets have regained stability.
For example, in money markets in which financial institutions mutually trade short-term funds, the transaction volume once plunged to the extent “liquidity evaporated.” It is now in a state that money markets are awash with low cost funds, and extremely low interest rates have been continuing.