In light of these circumstances, the Bank's basic assessment is that a virtuous cycle continues to operate in the corporate sector, whereby a rise in overseas demand feeds into a pick-up in business fixed investment through improvements in firms' sentiment and profits. Yet, automakers are still cutting production, even though the effects of supply-side constraints have begun to bottom out.
It is not necessarily the case that the GFXC will amend the existing principles of the Code dealing with these practices. This may happen, but we are certainly aiming to provide guidance material that provides greater clarity about how these practices are used and what the relevant considerations are for market participants.