However, there is still room for improvement in Japan with regard to enrollment in graduate schools. The proportion of female graduates at Ph.D. level is 31 percent for Japan, the lowest among the OECD countries, where the average is 47 percent.9  Let me briefly talk about Japan's financial sector in relation to the asset building of households.
The Governing Council also emphasised its commitment to maintain price stability in the medium term and its strong determination to secure a firm anchoring of medium and long-term inflation expectations in line with price stability. Financial markets Let me now turn to financial market developments and the financial stability outlook in the euro area.