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Release of Outlook and Risk Assessment of the Economy and Prices

October 13, 2000
Bank of Japan

(For immediate release)

Based on the report titled On Price Stability published today, the Bank of Japan has decided to issue Outlook and Risk Assessment of the Economy and Prices.

1. Outlook and Risk Assessment of the Economy and Prices will be determined by the Monetary Policy Meeting of the Policy Board and issued twice a year, in April and October, as part of Monthly Report of Recent Economic and Financial Developments.As an exception, Outlook and Risk Assessment of the Economy and Prices for October this year, to be determined at the Monetary Policy Meeting on October 30, will be independently published on October 31.

2. "Forecasts of Policy Board Members" are included in Outlook and Risk Assessment of the Economy and Prices as a reference.

3. "Forecasts of Policy Board Members" cover real GDP, domestic WPI, and CPI (excluding perishables).All figures are year-on-year average changes from the previous fiscal year.

4. "Forecasts of Policy Board Members", to be released on October 31 this year, cover the period from April 2000 through March 2001.

5. "Forecasts of Policy Board Members" are presented in two forms:

  1. (1) The forecasts of the majority of Policy Board members are shown as a range with the highest and lowest figures excluded.If there are multiple highest and/or lowest figures, only one from either end is excluded.
  2. (2) The forecasts of all Policy Board members are shown as a range between the highest and lowest figures.

6. The forecasts of Policy Board members are based on the assumption that there will be no change in monetary policy.

Through such measures, the Bank of Japan will continue to make efforts to further promote public understanding of its evaluation of economic and financial developments and the conduct of monetary policy.From the viewpoint of enhancing the transparency of the conduct of monetary policy, the Bank will continue exploring ways to improve the above methods and content.