More specifically, if the economy is likely to follow the path projected in the Outlook Report, then this will entail some gradual adjustment in the level of the policy interest rate so as to accommodate the ongoing changes in economic and price conditions.
Such being the case, it is likely that an easy monetary environment with extremely low interest rates will be maintained for some time. The Bank's basic thinking in this regard has been emphasized repeatedly, but simply put, we intend to adjust the level of interest rates gradually, taking careful account of developments in economic activity and prices.