So too, disentangling real economies from the funding advantages associated with moral hazard, or the supra-competitive profits associated with a concentrated industry structure, may not be easy. Perhaps, then, in the short term, the research community and regulators may benefit from case studies that inform the direction of future research.
The reason for deciding on the additional easing despite this is that the Bank judged that we are still in the midst of converting the deflationary mindset and there is a risk that a slowdown in the actual rate of increase in the CPI might delay this conversion. Two engines have so far brought the conversion of the deflationary mindset.