Based on a thorough examination of the economic and price situation as well as the market situation both at home and abroad, the Bank will carefully assess the future outlook for economic activity and prices, closely considering the likelihood of its projections as well as relevant risk factors, and will implement its policies in a flexible manner.
While alternative theories to explain a set of phenomena are not necessarily a weakness and may even be regarded as a sign of vitality, the continued co-existence of alternative theories over a substantial period of time without being able to discriminate among them can result in the loss of credibility in the discipline itself. This in part is the present status of economics.