In such an event, the responsiveness of prices to the output gap would remain limited and the outcome for prices in fiscal 2014 could be lower than projected by the Bank. Please note that this remark has nothing to do with the debate on the timing of the tax hikes.
In this regard, let me remind you that I have been supporting the scheduled introduction of the consumption tax hikes, with a view to maintaining fiscal soundness and sustainability of the social security system.