The Bank's Policy Responses Next, I would like to talk about the Bank's policy responses to these developments. Containment of the spread of COVID-19 is a top-priority task for Japan, but what is most  3  important in terms of economic measures is to protect employment, businesses, and people's livelihoods until the spread almost subsides.
While doing so, it is essential for the Bank to make policy responses so that downward pressure from the financial side on the real economy will not intensify. Monetary Policy Responses Let me start with monetary policy responses.