Bank of Japan: Outlook for Economic Activity and Monetary Policy (3)
I would like tentatively to introduce some points of the Outlook for Economic Activity and Prices and Monetary Policy by the Bank of Japan, as of May 13, 2022.
Japan's economy is in the process of recovering from a significant downturn caused by the novel coronavirus (COVID-19) two years ago. Although attention should continue to be paid to the impact of COVID-19 as a factor, for example, to push down services consumption or to constrain exports and production, such as through supply-chain disruptions, downward pressure on economic activity stemming from such impact has waned gradually, due in part to the widespread vaccinations. However, Russia's invasion of Ukraine this February has added a new geopolitical shock, for which the course is difficult to project. This has heightened uncertainties surrounding Japan's economy; for example, it has led to significant rises in global commodity and grain prices and exerted downward pressure on overseas economies by directly and indirectly affecting trade activity and sentiment.
(3) https://youtu.be/0w0De8p04Ic
