I would like to begin my speech by talking about overseas economies.

Overseas economies have been depressed significantly, reflecting the novel coronavirus (COVID-19) pandemic. As the impact of COVID-19 wanes, they are likely to recover, partly supported by aggressive macroeconomic policies taken by each country and region. Nevertheless, the pace of recovery is expected to be only moderate, since firms and households are likely to remain vigilant against the risk of infection until effective medicines and vaccines are developed (Chart 1).

Let me take a look at developments by major region. The U.S. economy has seen a continued pick-up mainly in its labor market indicators, reflecting moves to resume economic activity despite the ongoing spread of COVID-19. However, it is of concern whether the pace of economic recovery will be sustained, given the resurgence of COVID-19 and anxieties about the political and social situation.

In Europe, some signs of...

Welcome to "BOJ from Home." Through this online tour, we offer you a 3-D/virtual reality (VR) viewing experience as you explore the new tour route of the Bank of Japan's Head Office (designated as an Important Cultural Property).

The interior of the Bank's Main Building can be viewed in 3-D on any PC or mobile device.

You can also enjoy an immersive virtual reality experience using VR goggles or glasses.