Under such circumstances, the Bank of Japan has adopted quantitative easing as its fundamental policy framework. And we have made our commitment to maintain the current quantitative easing, that is to maintain zero interest rates, until the core CPI shows a year-on-year rate of increase of zero percent or above on a sustainable basis.
Quantitative easing has helped to maintain financial market stability and to make the environment surrounding corporate finance more accommodative, thereby underpinning economic activity. Concerns about a liquidity shortage in the money market have been almost dispelled, and short- to medium-term interest rates have been low, reflecting the Bank's commitment in terms of policy duration.