For example, firms that limited their number of customers could choose to keep or raise their prices to secure profits. Thus, there are unusual uncertainties over how firms will set their prices reflecting the impact of COVID-19, and their price-setting behavior warrants attention. II. The Bank's Conduct of Monetary Policy Next, I would like to explain the Bank's conduct of monetary policy.
In response to the impact of COVID-19, the Bank considers it important in terms of monetary policy to ensure smooth financing, mainly of firms, and maintain stability in financial markets. On this basis, it has enhanced monetary easing since March and implemented three measures to achieve the following objectives (Chart 8). The first is to support financing, mainly of firms.