Overseas  I would like to start my remarks with a look at developments in economic activity and prices, in and outside Japan. On overseas economies – mainly advanced economies – the Bank of Japan’s current assessment is that they have been recovering, albeit with a lackluster performance still seen in part.
While the Bank does not target an exchange rate for the US dollar or any other currency, it would be entirely wrong to imply that it pursues an attitude of benign neglect or is indifferent to the exchange rate. A strong euro is in Europe’s interest and in Ireland’s interest.