Conclusion Today, I talked about developments in Japan's economy, its outlook, the Bank's response to COVID-19, as well as the efforts that are required when also looking ahead to the post-COVID-19 era. The pandemic has reminded us of the importance of social interaction.
Thus, there has been no significant acceleration of business fixed investment when compared to past recovery phases. One factor behind this seems to be the various BIS Review 117/1997  -7-  structural adjustment pressures that the Japanese economy faces today, notably persistent balance-sheet adjustment pressures.