Distinguished guests and members of Japan Society. It is my great honor and real pleasure to speak to you today. As a member of the Policy Board of the Bank of Japan, I myself voted for quantitative and qualitative monetary easing (QQE) last April. It is my strong desire to ensure that it succeeds.
At the same time, in the process of overcoming deflation, the Japanese government’s efforts for fiscal consolidation play a vital role. It is for that reason that I will talk about fiscal consolidation today. Today, I will first explain the current developments in Japan’s economy.