This April 2012 issue of the Outlook for Economic Activity and Prices (Outlook Report) presents the outlook for Japan's economy through fiscal 2013. The Outlook Report first provides a description of developments in global financial markets and overseas economies that are affecting trends in Japan's economy, followed by the Bank of Japan's assessment of the nation's financial conditions. Next, taking these into account, the scenario for economic activity and prices considered to be the most likely by the Bank -- its baseline scenario -- is described, and upside and downside risks associated with the scenario are ... (full story)