Sales of durable consumer goods such as household electrical appliances, which had been affected by the decline in demand after the consumption tax hike for a protracted period, have been on an improving trend since early autumn. Going forward, private consumption is expected to remain resilient with the employment and income situation continuing to improve steadily.
As I have explained so far, with a virtuous cycle from income to spending likely to be maintained steadily in both the household and corporate sectors, Japan’s economy is expected to continue growing at a pace above its potential. II. The price stability target and quantitative and qualitative monetary easing  Next, I would like to talk about monetary policy.