The Bank of Japan has released today its monthly report, which announced that the Japan's economic activity has continued picking up during this period, while the production cycle and the main pillar of economic growth (exports) have continued to incline as Japan's companies performance returned to normal levels after the massive earthquake.

Moreover, business investment sector has aided partly by the restoration of disaster-stricken facilities. Private consumption has also been picking up, although weakness remains in some aspects of consumer behavior. Housing investment has shown clear signs of picking up and public investment has almost stopped declining.

Furthermore, the benchmark interest rate has remained at an extremely low level, and firms' funding costs have declined moderately.