The latest current account surplus... confirmed the view that the economy is growing at a moderate pace.

The latest trade figures confirm that Japan's economy is recovering steadily and modestly.

Expectations for higher interest rates are solid now. No one doubts that the Japanese economy is improving.

There's no doubt that the economy is emerging from deflation, and is at little risk of slipping back into it.

Wage and labor conditions have been a lot stronger than expected. We expect the bank to end its zero-rate policy in the third quarter.

We had once thought Mr. Koizumi's government could meet our expectations, but it now seems we may have overestimated their ability.