In order to address these two challenges, the Bank decided to newly implement measures to strengthen the framework of powerful monetary easing. Today, within the limited time provided, I would like to introduce particularly important measures (Chart 11). First, the Bank decided to strengthen its commitment to achieving 2 percent inflation by introducing forward guidance for policy rates.
At the outset we may agree that while Basel II - as a framework - might not be a mystery, some elements of the framework might be a mystery for some people. I, therefore, propose to deal with certain specific elements of the Basel II framework, which has been a challenge to us - and we might not be alone in that respect.