80th Opinion Survey

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Survey Outline

Survey period : From November 7 to December 3, 2019. Population of the Survey : Individuals living in Japan who are at least 20 years of age. Sample size : 4,000 people (2,107 people [i.e., 52.7 percent of the overall sample size] provided valid responses to questions). Sampling method : Stratified two-stage random sampling method. Survey methodology : Questionnaire survey (mail survey method). Impression of Present Economic Conditions Compared with One Year Ago Percent, percentage points

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Have improved (A)	4.8	3.7	3.2	3.2
Have remained the same	70.9	67.1	67.3	62.7
Have worsened (B)	24.0	28.7	29.2	33.0
D.I. (A) minus (B)	-19.2	-25.0	-26.0	-29.8

Outlook for Economic Conditions One Year from Now Percent, percentage points

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Will improve (A)	8.7	7.0	6.1	6.5
Will remain the same	51.3	49.4	45.6	53.3
Will worsen (B)	39.3	43.1	47.8	39.1
D.I. (A) minus (B)	-30.6	-36.1	-41.7	-32.6

Impression of Present Household Circumstances Compared with One Year Ago Percent, percentage points

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Have become better off (A)	6.5	6.0	6.8	5.6
Difficult to say	53.0	52.9	49.8	51.4
Have become worse off (B)	40.0	40.5	43.0	41.7
D.I. (A) minus (B)	-33.5	-34.5	-36.2	-36.1

Perception of the Present Price Levels Compared with One Year Ago Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Have gone up significantly	8.4	10.0	9.4	8.4
Have gone up slightly	59.6	61.2	61.1	56.1
Have remained almost unchanged	29.9	26.0	27.3	31.8
Have gone down slightly	1.4	1.8	1.3	1.9
Have gone down significantly	0.3	0.5	0.2	0.2

Outlook for Price Levels One Year from Now Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Will go up significantly	11.3	11.7	11.7	7.7
Will go up slightly	67.4	68.8	68.1	65.6
Will remain almost unchanged	18.1	16.6	17.2	23.0
Will go down slightly	2.2	2.1	2.3	2.2
Will go down significantly	0.4	0.4	0.4	0.1

One of the Bank's Objectives Is to Achieve Price Stability Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Know about it	-	30.5	-	29.6
Have read or heard of it, but do not know much about it	-	45.7	-	43.2
Have never heard of it	-	23.6	-	26.4

The Bank Has Set the Price Stability Target at 2 Percent in terms of the Year-on-Year Rate of Change in the CPI  Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Know about it	26.0	26.2	22.7	23.9
Have read or heard of it, but do not know much about it	35.2	33.0	37.8	28.8
Have never heard of it	38.2	40.6	39.2	46.4

The Bank Has Been Implementing Aggressive Monetary Easing Measures to Achieve the Price Stability Target of 2 Percent  Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Know about it	26.0	38.6	24.2	34.6
Have read or heard of it, but do not know much about it	38.1	38.0	38.1	37.3
Have never heard of it	35.1	23.0	37.0	27.1

The Bank Has Been Conducting "Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control"  Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Know about it	16.5	20.8	14.5	18.5
Have read or heard of it, but do not know much about it	31.8	34.7	31.0	34.2
Have never heard of it	50.4	44.2	53.9	46.4

Confidence in the Bank Percent

	77th survey(Mar 2019)	78th survey(Jun 2019)	79th survey(Sep 2019)	80th survey(Dec 2019)
Confident	-	15.1	-	12.7
Somewhat confident	-	28.4	-	30.8
Difficult to say	-	47.0	-	46.4
Not particularly confident	-	7.0	-	6.0
Not confident	-	2.0	-	2.7

Inquiries

Planning and Analysis Group, Public Relations Department

E-mail : [email protected]