The latest Outlook Report points to two risks, which are uncertainties over firms' price-setting behavior and developments in foreign exchange rates and international commodity prices. In particular, we pay great and utmost attention to the possible impact of developments in foreign exchange rates on prices. II. The Bank's Conduct of Monetary Policy Now, I will talk about the Bank's conduct of monetary policy.
COVID-19 has been significantly affecting developments in economic activity and prices as well as financial conditions.