First, there is a need to streamline the sector, to bring within its fold entities that should have, but have not, sought registration from the Bank. These have been identified and suitable corrective action is underway. Second, it has come to the notice of the Bank that there are financial companies that have been accepting deposits from the public without authorisation from the Bank.
These rates have declined since end-May, even in a situation of long-term interest rates in the United States and many other countries having substantially increased across the board. The break-even inflation rate and expected inflation rates judged from various surveys have been increasing. Thus, the QQE has been exerting its intended effects and Japan has been steadily moving toward overcoming deflation.