[Provisional Translation]

Prime Minister Shinzo Abe held the second meeting in 2017 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, after a discussion on the economies of the United States and other countries, concentrated deliberations were held on monetary policy, commodity prices and other issues.

Based on the discussion, the Prime Minister said,

“First, we held a discussion on the economies of the United States and other countries.

Japan and the United States together make up 30 percent of global GDP, and share common interests of maintaining a strong global economy, securing financial stability, and increasing employment opportunities.

During my recent visit to the United States, it was decided that the framework for a new economic dialogue led by Deputy Prime Minister Aso and Vice President Pence of the United States will be launched in order for Japan and the United States to further deepen our win-win economic relations. I would like us to have constructive discussions under this economic dialogue framework.

Second, concentrated deliberations were held on monetary policy, commodity prices and other issues.

Toward the Japanese economy’s exit from deflation, the Government and the Bank of Japan must work as one to continue to release the three arrows of Abenomics. I also hope that forward-looking results will be achieved in this year's spring employer-employee negotiations.

It was pointed out by private sector members that compared to the growth in income, the tempo of recovery of consumption is sluggish. As a new initiative to encourage individual consumption, Premium Friday (the practice of having shorter working hours on the last Friday of each month) will be implemented monthly beginning on February 24. I would like the Government as well to exercise ingenuity so that as many personnel as possible can enjoy this practice.”