As I have discussed today, labor market conditions in Japan are projected to tighten further, and firms' price- and wage-setting behavior is also likely to change. In this sense, we are approaching a critical juncture in breaking out of the prolonged period of low inflation and low growth since the collapse of the bubble economy.
This represents the realisation of a great political and economic dream, and the National Bank of Belgium is proud to have contributed to it, both in planning the arrangements at European level and in ensuring that our country satisfied the conditions for membership.