G.  Importance of strengthening coordination with the government and maintaining fiscal consolidation  The joint statement indicates that the Bank sets the price stability target at 2 percent in terms of the year-on-year rate of change in the CPI, and under the target it will pursue monetary easing and aim to achieve this target at the earliest possible time.
At the same time, the government will formulate measures for strengthening the competitiveness and growth potential of Japan’s economy, and promote them strongly, as well as steadily promote measures aimed at establishing a sustainable fiscal structure.