and doing whatever it takes to settle the situation, and will work together to bring the Japanese economy back again on the post-pandemic solid growth track." I believe that the clear stance of the government and the Bank has helped build a sense of assurance regarding the outlook for Japan's economy.
B. Reflections on Policy Effects The policy responses undertaken to date by the government and the Bank have generally been effective. This is indicated by the fact that the rise in the number of unemployed and corporate bankruptcies has so far been limited, despite economic activity being rapidly and significantly depressed due to the impact of COVID-19.