Under such circumstances, it is hard to believe that the adoption of inflation targeting would increase the effectiveness and enhance transparency regarding the future conduct of monetary policy. I believe that the current policy commitment is most effective in enhancing the transparency of monetary policy and stabilizing the expectations in the market.
It clarifies under what conditions and for how long the Bank intends to maintain the framework of its current quantitative easing policy. In addition to enhancing transparency, we need to strengthen the transmission mechanism of monetary policy in the area of corporate finance. In this regard, the Bank has begun purchasing assetbacked securities backed by private sector corporate debt.