Today, I will talk about monetary policy of the Bank of Japan, which goes further into uncharted territory. I. Developments of economic activity and prices, and path toward achieving the 2 percent price stability target  Let me begin by presenting a general picture of the current developments and outlook for economic activity and prices. Japan’s economy has started picking up.
Public investment has continued to increase, and housing investment has generally been picking up. Private consumption has increased resilience. Exports and production have stopped decreasing. Business fixed investment appears to have stopped weakening. As for the outlook, domestic demand is likely to remain resilient due to the effects of monetary easing and various economic measures.