The Bank has been steadily pursuing the policy as initially scheduled (Chart 10). The monetary base expanded to 177 trillion yen as of end-August from 146 trillion yen as of end-March, steadily accumulating toward the targeted 200 trillion yen as of the end of 2013.
We are well aware that community banks serve communities, businesses, and households that are often underserved by larger institutions and offer more extensive and more personalized services than are often otherwise available. We know that community bankers are part of the communities they serve, and they are often better able to understand the needs and the aspirations of their customers.