As I have explained, monetary policy is not aimed at supporting financial institutions, and it is not possible to control the earnings of financial institutions by means of monetary policy over an extended period. I would once again like to emphasize that monetary policy is to be managed in accordance with the overall economic condition for the purpose of ensuring price stability.
C. Monetary Policy Management from a Medium to Long-Term Perspective I would like to turn to a third set of comments and questions received by the Bank related to its monetary policy management. It is a question of whether the official discount rate should have been raised sometime between 1996 and early 1997, when the economy was recovering.