Yukitoshi Funo: Economic activity, prices in and monetary policy Japan

Speech by Mr Yukitoshi Funo, Member of the Policy Board of the Bank of Japan, at a meeting with business leaders, Shizuoka, 22 March 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I. Recent Economic and Price Developments

A. Overseas Developments

I would like to begin my speech by talking about developments in overseas economies. An improvement in business sentiment of manufacturing firms has become evident on a global basis, mainly on the back of an increase in IT-related demand and of the progress observed in emerging economies in inventory adjustments of materials. In this situation, overseas economies have continued to grow at a moderate pace.