Sustained economic recovery  The Bank publishes its economic outlook that covers a period of about one year and a half to two years in its semiannual Outlook for Economic Activity and Prices (hereafter the Outlook Report).
In the April 2006 Outlook Report, we presented our view that, through fiscal 2007, the Japanese economy is likely to experience a sustained period of expansion under price stability. Economic developments since then seem to indicate that the economy is moving broadly in line with this projection. The expansion of overseas economies is broadening in extent.