The government compiled its Monthly Economic Report for March and maintained its assessment that the economy had picked up moderately, although weakness had been observed in some areas. As for the outlook, bearing in mind the financial instability originating in Europe and the United States, it is necessary to pay close attention to developments in financial markets.

At the relevant ministerial meeting on the 22nd, the government compiled its monthly economic report for March.

As a result, "private consumption" had been picking up moderately, as service consumption continued to recover, such as an increase in inbound demand and the relaxation of rules for wearing masks.

Business fixed investment is picking up, noting that investment toward digitalization and decarbonization is showing strength.

On the other hand, production has been on a downward trend in electronic component production due to the postponement of investment in semiconductor manufacturing equipment, so the assessment was downgraded to be somewhat weak recently.

As for the economy as a whole, the Bank left its assessment of the underlying trend since January unchanged, stating that the economy had been picking up moderately, although weakness had been observed in some areas.

On the other hand, as for the outlook, it is necessary to pay close attention to fluctuations in financial markets, bearing in mind the successive bankruptcies of U.S. banks and the management problems of Credit Suisse, a major Swiss financial company.