The outlook for economic activity and prices  The outlook for Japan's economic activity is the largest concern at the moment. The Bank released the October 2008 Outlook for Economic Activity and Prices (Outlook Report) on October 31, which contains projections through fiscal 2010.
Given that monetary policy takes effect with a considerable time lag, it is necessary that a central bank make long-term projections of future economic activity and prices. The Bank has extended the projection period for the October Outlook Reports, and the recent report presented projections through fiscal 2010.