Through these combined effects, we believe that a widespread use of this facility has the potential to halt the vicious circle of constrained lending, weak macroeconomic conditions and elevated loan delinquencies, and re-ignite a positive “credit multiplier” process. And in fact the combination of monetary policy measures decided last month already led to a further easing of the monetary policy stance.
The scars are yet to heal in the quake-stricken regions. In the aftermath of the disaster, however, we Japanese were not in a hopeless situation. We have received lots of support and numerous warm messages from our friends abroad. I express my sincere gratitude to those whose hearts and thoughts have been with us since the day.