Summary of key points from the press conference by the Governor of the Bank of Japan, Haruhiko Kuroda.

1. Regarding the conditions for raising interest rates: If the economic downturn is temporary and does not affect potential inflation, it may be possible to raise interest rates. 2. Key points about future policies: Focus on whether there is a change in the outlook for the median price level, as well as the trend of wage increases for small and medium-sized enterprises. 3. About the conflict in the Middle East: The conflict in the Middle East is causing higher upward pressure on prices. It is currently unclear whether the impact is temporary, making it difficult to predict in advance the effect on potential inflation. 4. About the depreciation of the Japanese yen: Exchange rate fluctuations may have a greater impact on potential inflation than in the past. Pay close attention to the impact of exchange rates on prices. 5. About wage increases: The momentum of wage growth for small and medium-sized enterprises may be better than in previous years. We will refer to surveys and studies to assess the wage trends of small and medium-sized enterprises.