We do say, even though inflation is around 1 now, we assess by 2021 it’ll be 1.5 which would be closer towards the target. The money markets do anticipate there will be some reversal in the interest rate path, so I think that’s a good baseline.
This policy framework is designed to enable the Bank to further pursue monetary easing by making full use of possible measures in terms of three dimensions – quantity, quality, and an interest rate – in which a negative interest rate is added to the existing options of QQE conducted to date.