On the other hand, there are apprehensions that this may not happen soon  BIS Review 106/2009  9  because of the expected protracted recovery and also because of structural factors that may keep fiscal deficits at elevated levels into the medium term. These tensions between fiscal and monetary policies could potentially militate against financial stability.
In recent years, there have been successive natural disasters in Japan.2 At the end of last year, the government formulated the economic measures for the first time since 2016, with the aim of overcoming natural disasters and downside risks to economic activity and of providing people with a sense of security for the future.