Accordingly, the rate of wage increases will exceed the rate of price increases (excluding the temporary effects of the consumption tax hikes) by this magnitude. I consider that the 2 percent inflation is likely to be reached toward the end of the projection period at a moderate pace that does not impose excessive burdens on firms and households.
I consider that such a gradual path is likely to lead to a society where the 2 percent inflation is maintained in a stable manner and is desirable for Japan’s economy. This brings me to the end of my speech. Thank you very much indeed for your kind attention.