For a recent analysis of the importance of the quality assurance of banks’ bottom-up results, see Kok, C., Müller, C. and Pancaro, C. (2019), “The disciplining effect of supervisory scrutiny on banks’ risk-taking: evidence from the EUwide stress test”, Macroprudential Bulletin, Issue 9, ECB, October.
It will examine both upside and downside risks to economic activity and prices, and make adjustments as necessary to achieve the price stability target. I would like to conclude  4  BIS central bankers’ speeches  my speech by promising that the Bank will surely manage to overcome deflation, which is the largest challenge facing Japan’s economy, through such conduct of monetary policy.