Takako Masai: Economic activity, prices and monetary policy in Japan

Speech by Ms Takako Masai, Member of the Policy Board of the Bank of Japan, at a meeting with business leaders, Nara, 6 February 2020.

Central bank speech  | 
06 February 2020
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 |  12 pages

I. Developments in Economic Activity and Prices

I would like to start my speech with a look at developments in economic activity and prices.

Following the discussion at the Monetary Policy Meeting (MPM) held in January 2020, the Bank of Japan published the Outlook for Economic Activity and Prices, or the Outlook Report. In this report, the Bank presented its projections for Japan's economic activity and prices from fiscal 2019 through fiscal 2021.

I will explain developments in economic activity and prices by presenting the main content of the Outlook Report.

A. Overseas Economies

Let me first touch on the current situation for overseas economies.