The Reserve Bank’s use of trends in estimating potential output means these estimates capture the large permanent or persistent changes in input components, such as lasting shifts in participation, but does not capture higher-frequency movements.
July 28, 2022  Bank of Japan  Japan's Economy and Monetary Policy Speech at a Meeting with Local Leaders in Iwate  AMAMIYA Masayoshi Deputy Governor of the Bank of Japan (English translation based on the Japanese original)  Introduction It is my pleasure to have the opportunity today to exchange views with leaders in administrative, financial, and economic areas in Iwate Prefecture.