boj speech, 2006-11-07
The Bank's assessment from the first perspective, which is the outlook that it deems most likely for economic activity and prices through fiscal 2007, is that Japan's economy is likely to continue expanding with domestic and external demand increasing and that the year-on-year rate of increase in the CPI (excluding fresh food, on a nationwide basis) is expected to rise gradually through fiscal 2007, as the level of excess demand in the economy (the positive output gap) is increasing at a moderate pace and downward pressure from declining unit labor costs is weakening.
Sentiment: neutral
Topic: mp_economic_activity