In this vein, the Government would continue to implement steadily the Revised Budget for Fiscal 2000. It would also endeavor for an early approval of the Budget for Fiscal 2001, and would execute appropriately the Budget in the coming fiscal year. In addition, the Government established the new Headquarter for Economic Measures jointly with the Government parties. The Bank of Japan has lowered the target rate for the uncollateralized overnight call rate from 0.25 per cent to 0.15 per cent, and the official discount rate from 0.35 per cent to 0.25 per cent. Evaluation of Individual Indicators 1.Demand trends of consumption, investment, etc.
Personal consumption remains broadly flat .
Judging from the Family Income and Expenditure Survey which is the statistical data in terms of the demand side, personal consumption that declined in January 2001 from the preceding month is continuing to fluctuate indecisively at present. Further, if factors such as automobiles, housing and remittances are excluded so as to make conceptual adjustments between the national accounts and the exclusion of variations arising from factors like big-ticket items with a low purchase frequency, it can be said that personal consumption in January rose slightly. Judging from the statistics in terms of supply, retail sales remain broadly flat but rose in January as compared to both the preceding year and month. Chain store sales rose slightly from December. On the other hand, department store sales have continued weak movements and auto sales have slightly declined since the beginning of this year.