Preventive care: lessons from the crisis The overriding objective of someone recovering from a severe illness is not to suffer a relapse. Unfortunately, there is no way of guaranteeing the avoidance of illness. But “preventive medicine” is crucial in reducing the risk of recurrence. We have to develop a new preventive framework to minimise the risk of recurrence.
As I have stated, comprehensive monetary easing has been effective in that it has encouraged a decline in longer-term interest rates and helped market participants from becoming too pessimistic. I believe that this is one reason why Japan’s financial conditions have been stable compared to those in the United States and Europe. IV.