This situation, in turn, is causing difficulty in providing funds through the Bank's market operations. At Monetary Policy Meetings, Policy Board members have been discussing whether to maintain the current high target range for the outstanding balance of current accounts at the Bank.
I must stress that the discussions have been from the viewpoint of examining what is the most appropriate way for the Bank to maintain the current quantitative easing policy framework, in response to the current situation where financial institutions' demand for liquidity is declining and financial market conditions are changing.