In this report, the Bank presented its projections for Japan's economic activity and prices through fiscal 2021. I will explain developments in economic activity and prices by presenting the main content of the Outlook Report. A. Overseas Economies Let me first touch on developments in overseas economies.
The Bank assesses that, although overseas economies have been growing moderately on the whole, slowdowns have continued to be observed. Private consumption has been firm on the whole, mainly due to the favorable employment and income situation.