Masazumi Wakatabe: Japan's economy and monetary policy

Speech by Mr Masazumi Wakatabe, Deputy Governor of the Bank of Japan, at a meeting with business leaders, Ehime, 5 February 2020.

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

Introduction

Good morning. It is my pleasure to have the opportunity today to exchange views with administrative, financial, and business leaders in Ehime Prefecture. I would like to take this chance to express my sincere gratitude for your cooperation with the activities of the Bank of Japan's Matsuyama Branch.

At the Monetary Policy Meeting held in January, the Bank updated its projections for Japan's economic activity and prices through fiscal 2021 and released them in its quarterly Outlook for Economic Activity and Prices (Outlook Report). Today, while outlining the Outlook Report, I would like to explain the Bank's view on developments in economic activity and prices, including the global economy, as well as monetary policy conduct, with a focus on economic growth.