C. Recent Conduct of Monetary Policy So far, I have explained the Bank's view on developments in economic activity and prices. With such circumstances in mind, the Bank considers it important to firmly support the economy and provide a favorable environment for firms to raise wages.
Regarding the CPI for April, an issue of key interest has been whether firms have been able to pass on the consumption tax hike by raising sales prices in line with the tax hike, and the index for Tokyo, which is released ahead of the nationwide index, suggests that this is indeed the case.