I certainly welcome discussions on how central banks can best contribute to sustained economic growth and sound development of the global economy.
I think market participants' common view is that economic fundamentals in Japan are firm. I hope they will react calmly.
Thus, the questions we should ask here are what makes the current economic upswing different from the past two recoveries, and whether such differences are sufficient for the economy to reach the sustained growth path.
All we can say is that we will respond appropriately to economic and financial conditions.
Japan's economic situation is at an important stage. Price judgment is needed about the future course, but I have no determined idea,
Interest rates will stay at zero for a while, then move to extremely low levels before being adjusted according to economic conditions.
Our top priority is to help bring about sustained economic growth, and moving out of deflation is only half way there.
Based on a recovering overall economic climate, the consumer price index, excluding fresh food prices, was at or above zero percent for the third consecutive month since October.
A low rate of inflation itself now poses a new challenge of achieving and promoting sustained economic growth in the global economy.
The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.