Hence, the outstanding debt, while fluctuating in the range of 25 percent to 50 percent of GDP, has actually declined slightly as a share of GDP. It was 38 percent of GDP in the mid-1960s and is now only 37 percent of GDP.
The effects of monetary easing are being amplified by low interest rates maintained during the improvement in economic and price conditions. Given this situation, the Bank will thoroughly examine economic activity and prices, and decide a change of the policy framework appropriately according to the commitment based on the CPI. Conclusion Japan's economy continues to recover steadily.