Japan's economy has continued its moderate recovery trend - BoJ's Masai

Takako Masai, a member of the BoJ's Policy Board, gave a speech at a seminar hosted by the Embassy of Japan in Zurich.

Key highlights

• Private consumption has shown some signs of improvement recently
• Corporate profits have been at record high levels, but firms have been taking a cautious view on the outlook
• The stabilization of energy prices has a positive impact on Japan's economy
• Favorable employment situation and household sentiment
• Japan's economy has continued its moderate recovery trend
• Business fixed investment has been on a moderate uptrend
• Japan's economy is expected to turn to a moderate expansion
• Slowdown in emerging economies and yen appreciation are likely to exert downward pressure for the time being
• The year-on-year rate of change in the CPI (all items less fresh food) is likely to increase from about 0 percent and become slightly positive, due mainly to the negative contribution of energy prices dissipating