In response to the COVID-19 shock, the Bank has conducted monetary policy with a view to supporting corporate financing and maintaining stability in financial markets. Let me explain in some detail why we consider these two points as crucial. The first is with regard to supporting corporate financing.
There is a dilemma that the demand stimulus measures for the overall economy could constrain economic activity if they lead to an increase in the number of confirmed cases of COVID-19. Given that the spread of COVID-19 continues, demand stimulus measures for targeted areas are effective, since prevention of infection and improvement in economic activity can be achieved simultaneously.