Business fixed investment -- mainly construction investment related to urban redevelopment projects and that aimed at meeting inbound tourism demand, investment aimed at improving efficiency and saving labor to address labor shortage, as well as software investment and R&D investment for growth areas -- is likely to continue increasing moderately amid accommodative financial conditions, although it is expected to decelerate temporarily, mainly in machinery investment by manufacturers, due to the effects of the slowdown in overseas economies, and such factors as an accumulation of capital stock are projected to exert downward pressure from a somewhat longer-term perspective.
A few days before each meeting we receive further documentation prepared by various units in the SARB, so by the time we have the MPC meeting, we are well prepared! MPC meetings last three days. The first day of the MPC meeting is devoted to discussions about global and domestic economic and financial market developments.