8  The Bank will be deliberating on the treatment of the COVID-19 Special Operations from April 2022 onward while carefully assessing the COVID-19 situation and its impact on corporate financing. With that said, I would like to touch on some issues that I think warrant attention with regard to the Bank's policy responses to the pandemic.
First, although longer-term yields have begun to move up recently, they remain low by historical standards, and financial conditions remain favorable. Second, business balance sheets are strong, and corporate earnings have been robust. Third, household credit quality has shown few signs of stress.