Therefore, it is essential to take concrete steps toward raising the growth potential and fiscal consideration when stability in the government securities markets is maintained. Enhancement of market stability through these efforts is also likely to contribute to promoting a supportive environment for the rebuilding and revival following the disaster.
Given the already enormous fiscal deficit, underwriting of government securities by the Bank of Japan is occasionally discussed as an option for funding new government spending. However, it should be noted that there is no magic wand that creates something from nothing.