Closing remarks Today, I have talked about medium- to long-term issues facing the Japanese and world economies and I have put forward some basic strategies for addressing those issues. There are certainly a number of issues that require attention.
As in previous years, the Committee interpreted the ranges for the broader monetary aggregates as benchmarks for what money growth would be under conditions of price stability and sustainable economic growth, assuming historically typical velocity behavior. Last year, these monetary aggregates far overshot the upper bounds of their annual ranges.