At the same time, there was concern, such as over the possibility that deterioration in the business environment for financial institutions might negatively affect the financial intermediation going forward.
This was because, since the introduction of the negative interest rate policy, the declines in banks' lending rates had been significant compared to those in deposit interest rates, which already had little room to fall, and because long- and super-long-term interest rates also had declined significantly. The Bank considered it necessary to take these points into account when introducing the yield curve control. B.