Future developments in medium- to long-term inflation expectations should therefore continue to be monitored closely. IV. Conduct of monetary policy  Next, I will talk about the Bank's conduct of monetary policy. As I said earlier, economic conditions in Japan have deteriorated significantly.
I say this is a golden opportunity for us at CBB to take ownership of policy design for economies like our own, worldwide. Nobody else is doing this work. This can become our trademark, and when it does, we will attract talent from around the world to the ARS, people with an interest in Economic and financial management of SVOEs.