Given the limitations of respective price indexes in accurately grasping prices, I believe it is necessary to make a comprehensive assessment of price developments in the policy conduct, keeping in mind how the CPI is affected by factors such as the characteristics of its components, items on which households actually spend, and people’s perceptions of inflation.
C.  Transmission effects of monetary policy and financial system stability  Before closing my remarks, I would like to briefly touch on the subject of the transmission effects of monetary policy and the financial system stability. The Bank has been implementing QQE with the aim of achieving the price stability target of 2 percent.