They will help lower unemployment and underemployment further and, in time, see inflation return to the 2 to 3 per cent target range. The Board is committed to achieving the goals of full employment and inflation consistent with target. The bond purchase program is helping us to make progress towards those goals.
We decided to continue purchasing bonds because we are still some way from reaching those goals. However, at the same time we are responding to the stronger-than-expected economic recovery and the improved outlook by adjusting the amount purchased each week. This is consistent with the framework that we previously set out.