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Results of the 93rd Opinion Survey on the General Public's Views and Behavior (March 2023 Survey)

April 12, 2023
Public Relations Department
Bank of Japan

Full Text [PDF 822KB]

Survey Outline

Survey period : From February 3 to March 1, 2023.
Population of the Survey : Individuals living in Japan who are at least 20 years of age.
Sample size : 4,000 people (1,981 people [i.e., 49.5 percent of the overall sample size] provided valid responses to questions).
Sampling method : Stratified two-stage random sampling method.
Survey methodology : Mail survey method (responses collected by mail or via the internet).

Impression of Present Economic Conditions Compared with One Year AgoPercent, percentage points
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Have improved (A)	5.3	4.8	5.2	6.8
Have remained the same	38.2	31.4	27.1	28.8
Have worsened (B)	56.0	63.2	67.0	63.9
D.I. (A) minus (B)	-50.7	-58.4	-61.8	-57.1

Outlook for Economic Conditions One Year from NowPercent, percentage points
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Will improve (A)	13.5	10.5	9.1	13.1
Will remain the same	43.8	46.0	44.4	45.9
Will worsen (B)	42.2	42.9	46.2	40.3
D.I. (A) minus (B)	-28.7	-32.4	-37.1	-27.2

Impression of Present Household Circumstances Compared with One Year AgoPercent, percentage points
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Have become better off (A)	3.7	4.0	3.7	3.8
Difficult to say	52.3	44.4	42.4	39.7
Have become worse off (B)	43.2	50.7	53.0	56.0
D.I. (A) minus (B)	-39.5	-46.7	-49.3	-52.2

Perception of the Present Price Levels Compared with One Year AgoPercent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Have gone up significantly	30.6	46.4	52.7	62.8
Have gone up slightly	58.4	45.4	41.6	31.7
Have remained almost unchanged	7.9	5.9	3.6	3.2
Have gone down slightly	0.5	0.5	0.7	0.6
Have gone down significantly	0.7	0.4	0.7	0.7

Outlook for Price Levels One Year from NowPercent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Will go up significantly	29.4	28.9	32.5	33.1
Will go up slightly	57.7	56.8	52.5	52.6
Will remain almost unchanged	9.7	11.0	11.9	10.9
Will go down slightly	1.1	1.8	2.0	2.1
Will go down significantly	0.4	0.4	0.4	0.5

One of the Bank's Objectives Is to Achieve Price StabilityPercent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Know about it	30.5	-	30.7	-
Have read or heard of it, but do not know much about it	44.3	-	45.4	-
Have never heard of it	24.9	-	23.2	-

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
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Know about it	22.4	24.9	25.6	26.0
Have read or heard of it, but do not know much about it	32.5	29.3	32.8	30.1
Have never heard of it	44.7	44.9	41.0	43.0

The Bank Has Been Implementing Aggressive Monetary Easing Measures to Achieve the Price Stability Target of 2 Percent Percent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Know about it	33.9	28.7	41.8	32.4
Have read or heard of it, but do not know much about it	42.0	34.2	37.4	34.2
Have never heard of it	23.7	36.2	20.1	32.6

The Bank Has Been Conducting "Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control" Percent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Know about it	20.1	16.7	22.9	16.7
Have read or heard of it, but do not know much about it	35.6	29.2	36.1	32.0
Have never heard of it	43.9	53.3	40.6	50.4

Confidence in the BankPercent
	90th survey (Jun 2022)	91st survey (Sep 2022)	92nd survey (Dec 2022)	93rd survey (Mar 2023)
Confident	13.7	-	10.8	-
Somewhat confident	31.7	-	28.7	-
Difficult to say	44.9	-	48.0	-
Not particularly confident	5.8	-	7.6	-
Not confident	3.2	-	3.9	-

Inquiries

Planning and Analysis Group, Public Relations Department

E-mail : prdmail(at)boj.or.jp
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