This has created, in turn, a wealth of new chances and new opportunities that are, as always, associated with new challenges and new risks. One of our particular responsibilities in the sphere of the central banks is to guard against financial instability, to promote financial stability.
I would like to say a few words about the points I see as essential in the conduct of monetary policy in Japan going forward. Let me touch on the impact of foreign exchange rates and crude oil prices, mainly on economic activity and prices, as this has become a hot topic lately.