Such efforts will no doubt augment resilience of our economy through rejuvenating business activity and improving consumer confidence. In this sense, this fiscal year will be crucial for our economy in order to return to a sustainable and stable growth path.
Today, I would like to review recent economic developments and monetary policy management, followed by some of the main issues our financial system now faces. Recent economic developments Developments in domestic and overseas economies Amid the synchronous deceleration in world economies, Japan’s economy continued to deteriorate from the beginning of last year.