For example, the argument that any future exit from monetary easing will cause major problems also tries to reduce discomfort by referring to future possibilities. Since such arguments focus not on the present but on the future, they allow these opponents of QQE to avoid facing such dissonance for the time being.
These divergent patterns are also evident in the Bank’s liaison, with some firms reporting that demand is still strong, while others are reporting a noticeable softening. It is also worth noting that business surveys continue to report that trading conditions are above average.