There is also a possibility that the rate of inflation will deviate downward from the Bank’s baseline scenario due, for example, to a decline in medium- to long-term inflation expectations. II. Conduct of monetary policy  Lastly, let me explain the Bank’s conduct of monetary policy.
In order for Japan’s economy to overcome deflation and return to a sustainable growth path with price stability, the Bank has continued to consistently make contributions as the central bank through the three-pronged approach of pursuing powerful monetary easing consisting of comprehensive monetary easing, ensuring financial market stability, and providing support to strengthen the foundations for economic growth.