When making decisions on economic and price conditions, we will focus on the CPI as the 'inflation rate', while closely analyzing output and import prices.

When changing the current 'quantitative monetary easing' in the future, current reserves will be reduced to levels required by the market, but interest rates will stay at a very low level before they are adjusted in tandem with economic fundamentals.

There is no doubt that our judgment (for a policy shift) has entered a crucial stage.

Japan's economy is no longer a sick patient.

We expect the Fed to focus on the risks to higher inflation caused by higher energy prices, supply-chain disruptions and the strain on resources resulting from the massive rescue, relief and rebuilding effort now underway.

With inflation slowing, the focus now is to keep rates steady for growth.