Foreign exchange risks stemming from slowing overseas economies and the UK's decision to leave the EU

「The outlook remains uncertain, owing to concerns about the impact of U.S. policy developments, including trade policy, concerns about the future of the Chinese economy, and concerns that continued inflation may affect personal consumption through a deterioration in consumer sentiment.」

「The outlook remains uncertain, owing to concerns about the impact of U.S. policy developments, including trade policy, concerns about the future of the Chinese economy, and concerns that continued inflation may affect personal consumption through a deterioration in consumer sentiment.」

「The outlook remains uncertain due to downside risks to the economy arising from the impact of US trade policy, higher prices, the situation in the Middle East and volatility in financial and capital markets.」

「It remains necessary to monitor the impact on the domestic economy of downside risks in overseas economies due to continued high interest rates in Europe and the US and concerns about China’s economic outlook, higher prices, the situation in the Middle East, volatility in financial and capital markets and developments in domestic monetary policy, and the outlook remains uncertain.」

「It remains necessary to monitor the impact on the domestic economy of the prolonged and tense situation in Ukraine, a slowdown in overseas economies due to continued global monetary tightening accompanying surging resource prices and rising inflation, volatility in financial and capital markets, higher prices and developments in domestic monetary policy, and the outlook remains uncertain.」

「It remains necessary to monitor the impact on the domestic economy of the prolonged and tense situation in Ukraine, a slowdown in overseas economies due to continued global monetary tightening accompanying surging resource prices and rising inflation, volatility in financial and capital markets, higher prices and developments in domestic monetary policy, and the outlook remains uncertain.」

「As the impact of COVID-19 subsided and socioeconomic activity moved toward normalization, prices were rising while personal consumption recovered and corporate earnings improved, supported in part by companies’ efforts to pass higher costs through to prices and by improvements in employment and income conditions. The economy was therefore expected to recover moderately. However, it remains necessary to monitor the impact on the domestic economy of a slowdown in overseas economies against a backdrop of global monetary tightening, volatility in financial and capital markets, higher prices and developments in domestic monetary policy, and the outlook remains uncertain.」

「As the transition to a new phase of living with COVID-19 proceeds, the economy is expected to gradually recover, supported partly by the effects of various policies.」

「Amid continued global monetary tightening, it is necessary to pay close attention to the impact of downside risks in overseas economies, higher prices, supply constraints and volatility in financial and capital markets. It is also necessary to monitor the impact of the pandemic, which remains unresolved.」

「Meanwhile, amid concerns including the prolonged situation in Ukraine and restrictions on economic activity in China, it is necessary to pay close attention to downside risks to the economy arising from higher raw-material prices, supply constraints and volatility in financial and capital markets.」

「During the six-month period ended [the second quarter], Japan’s economy showed signs of recovery despite the continuing impact of COVID-19. However, it remains necessary to closely monitor the direction of the pandemic in Japan and overseas, downside risks transmitted through supply chains and volatility in financial and capital markets, and the outlook remains uncertain.」

「During the nine-month period ended [the third quarter], Japan’s economy showed signs of recovery as the effects of government economic stimulus measures and improvements in overseas economies offset the continuing impact of the spread of COVID-19. However, the pace remained moderate due to heightened caution over a renewed increase in infections, and uncertainty about the outlook persists.」

「Although economic and social activity has shown signs of a moderate recovery as it has resumed, uncertainty about the outlook continues due to destabilization of the global economy, including US-China trade friction, and concerns about the renewed spread of COVID-19.」

「During the nine-month period ended [the third quarter], Japan’s economy continued to recover moderately, supported by improvements in employment and income conditions. However, the outlook remained uncertain amid growing concerns about a slowdown in the global economy caused by trade friction between the US and China.」

「Although Japan’s economy continued to recover moderately, supported by improvements in employment and income conditions, the outlook remained uncertain amid growing concerns about a slowdown in the global economy caused by trade friction between the US and China.」

「During the three-month period ended [the first quarter], Japan’s economy continued to recover moderately, supported by improvements in employment and income conditions. However, the outlook remained uncertain amid growing concerns about a slowdown in the global economy caused by trade friction between the US and China.」

「Meanwhile, overseas conditions remain uncertain due to concerns including developments related to the protectionist policies of the US administration.」

「Although the economy continues to recover moderately, the recovery in personal consumption remains stalled. In addition, concerns about overseas political and economic developments persist, and conditions remain uncertain.」

「There are also concerns about overseas political and economic developments, and conditions remain uncertain.」

「There are also concerns about overseas political and economic developments, and conditions remain uncertain.」

「Meanwhile, overseas conditions remain uncertain due to concerns including developments in the policies of the US administration and rising geopolitical risks.」

「There are also concerns about overseas political and economic developments, and conditions remain uncertain.」

「There are also concerns about overseas political and economic developments, and conditions remain uncertain.」

「Meanwhile, overseas conditions remained uncertain due to the slowdown in emerging-market economies, including China, the UK’s departure from the EU and the future direction of the US economy.」

「During the six-month period ended [the second quarter], Japan’s economy remained on a moderate recovery trend, supported partly by the effects of government economic measures. However, the recovery in corporate earnings paused as the yen appreciated, while concerns about a downturn in overseas economies, including the slowdown in emerging-market economies, left the outlook uncertain.」

「The outlook remains uncertain, as concerns about a downturn in overseas economies due to the slowdown in emerging-market economies and rapid yen appreciation following the UK’s decision to leave the EU have emerged.」