Kazuo Ueda: The cost of tariffs will be passed on to consumers in the future, so there is a risk of expanding impact.

Bank of Japan Governor Haruhiko Kuroda: The US economy is currently still robust, with the impact of tariffs only slowly becoming apparent. The cost of tariffs will ultimately be passed on to consumers, hence there is a risk of expanding effects. The outlook for July has been mostly realized in the data of the following three months. The downside risks to the US economy have somewhat eased compared to the outlook for July. No comment on US Treasury Secretary Janet Yellen's remarks on monetary policy. We will closely monitor whether any unexpected negative risks emerge. More data is needed before deciding on adjusting the degree of monetary easing. Overall, confidence in achieving the expected outlook of the Monetary Policy Committee has strengthened.