The outlook for Japan's economy  I would now like to move on to the outlook for Japan's economy. As I mentioned earlier, there are currently both upward and downward pressures in Japan's economy. Regarding which will prevail, the Bank's baseline scenario projects that the upward pressure will outweigh the downward, leading the economy to start recovering from the latter half of fiscal 2009.
Global financial markets are expected to regain stability and overseas economies to start to recover, and in Japan the aggressive fiscal and monetary policy measures are likely to have positive effects. In addition to an increase in exports, business fixed investment and private consumption are therefore expected to be on a gradual recovery path.