Regarding exports, my risk assessment has also been consistently tilted downward because of concerns about sluggish external demand. This time, I revised downward my outlook on exports because the downside risk had materialized somewhat. However, since my outlook on imports was adjusted downward as well, the net impact on the trade balance is projected to remain limited.
As I already noted, improved communication can help our policies work better, whether through the disclosure of bank stress-test results or by helping the public and market participants better understand how monetary policy is likely to evolve.